Wednesday, Jun 29, 2016
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First Solar buys firm with ties to Ted Turner

PHOENIX First Solar Inc. said yesterday it bought a firm linked to cable TV billionaire Ted Turner that is involved in the development and construction of commercial solar-energy plants.

The Phoenix company, which has research and manufacturing operations in Perrysburg Township, paid $34 million for Turner Renewable Energy LLC of Branchburg, N.J. The sales price will be paid in cash and stock.

The name will be changed to First Solar Electric LLC. Executives, in a written statement, said they will gain a team experienced in development and operation of power plants and energy marketing. The firm, which was known as DT Solar, was formed in January when Mr. Turner bought into Dome-Tech Solar of Branchburg.

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