First Solar, Inc. (Nasdaq: FSLR) has entered into an agreement to significantly expand its penetration within the U.S. utility solar power market with the acquisition of OptiSolar's solar project pipeline. The acquisition includes:

l  A 550 megawatt (MW) AC solar development project under a power purchase agreement with PG&E

l  A project pipeline of additional 1,300MW AC which are in negotiation with Western region utilities for solar development projects

l  Strategic land rights of approximately 136,000 acres (approximately 210 square miles) with the potential to deploy up to 19 gigawatts (GW) AC of utility-scale solar power projects

First Solar expects to construct solar power plants developed under the acquired solar power project pipeline over the next several years and sell them to a combination of regulated utilities, diversified energy companies and other independent power producers.

First Solar's investment in the development pipeline and planned projects ensures that at least 400 new green collar jobs will be created in California. First Solar is committed to supporting the planned projects and will use its resources to bring these projects on-line on time. Project development is planned to begin as early as 2010.