A critical county-level project permit that threatened to derail First Solar's 230 MW Antelope Valley Solar Ranch 1 project has been secured.
Earlier this week, the company indicated in a Securities and Exchange Commission (SEC) filing that it was in danger of losing its U.S. Department of Energy (DOE) loan guarantee if it could not obtain the required construction permit by a Feb. 24 deadline.
However, the matter has since been settled, according to a research note from Collins Stewart analyst Daniel Ries, as quoted by Forbes. Antelope Valley is now fully permitted by Los Angeles County, and the DOE is expected to begin funding the loan guarantee shortly.
First Solar has not made an official announcement, due to its current SEC-mandated quiet period.