First Solar announced on September 8, 2009 that it signed a memorandum of understanding (MOU) with the Chinese government to build a 2 gigawatt solar power plant in Ordos City, Inner Mongolia, China. The solar project will be built over a multi-year period starting in 2010. Phase 1 will be a 30 megawatt demonstration project in which construction will start by June 1, 2010. Phases 2, 3 and 4 will be 100 megawatts, 870 megawatts, and 1,000 megawatts. Phases 2 and 3 will be completed in 2014 and Phase 4 will be completed by 2019. When the solar plant is finally finished, its panels will cover 25 square miles. First Solar shares closed at $160 on September 21 which is in the middle of its 52-week range.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. "First Solar Signs Deal to Build Plant in China. Field of Panels will Stretch for 25 Miles." Ryan Randazzo. The Arizona Republic. September 9, 2009.

2. "First Solar to Team with Ordos City on Major Solar Power Plant in China Desert."
Company Press Release. Business Wire. September 8, 2009.