First Solar (NASDAQ:FSLR) Sells 50 Megawatts
Modern Energy Roundup - March 22, 2012
- Enbridge, Inc. (NYSE:ENB) announced this morning that it will acquire a 50 MW solar project developed by First Solar (NASDAQ:FSLR). With this acquisition, Enbridge now has a piece of the US solar market. First Solar will recognize revenue from this project – the Silver State North project – after final testing and commissioning. This should be around Q2, 2012.
Of course, Enbridge's decision to grab some U.S. solar doesn't mean the company's shifting gears. Sure, you can definitely make some decent bread from some of these bigger solar projects in the U.S. But the lion's share of this company's profits won't be coming from solar. In fact, CEO Pat Daniel recently confirmed that ENB's future is pretty much natural gas. And mark my words, that's a solid future to have.
Although natural gas isn't quite as “clean” as some would have you believe, there's a ton of dough to be made here. My favorite play on natural gas right now is Linn Energy (NASDAQ:LINE). The company recently acquired BP's natural gas assets in Kansas and about another $175 million worth of natural gas assets in East Texas. It ponies up a fat 7% dividend, and yes, you better believe I own shares.