First Solar Drops ‘Holy Grail’ Technology That Sank Solyndra
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First Solar Inc. is closing a research project aimed at developing the same solar-panel material that doomed Solyndra LLC after a global supply glut drove down prices.
First Solar plans to fire about 100 employees, including 60 at a Santa Clara, California, research center, the Tempe, Arizona-based company said in a filing. The job cuts are part of a reorganization plan to narrow its focus to large utility-scale power plants and away from smaller, rooftop installations. It also slashed its profit and sales forecast.