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• 2007-Dec-1 - Turner Solar - DT Solar Sold for $34 Million

Phoenix-based First Solar Inc. announced late Friday it would spend $34.3 million in cash and stock to acquire a New Jersey-based company that builds and operates commercial solar projects.

The deal vertically integrates the high-flying solar-panel maker, putting it in the market of building and installing power projects as well. It also gives First Solar leverage in the U.S. market, where it has little penetration.

The company it acquired, DT Solar, a Turner Renewable Energy Co., will operate as a subsidiary. It gets its name from entrepreneur, philanthropist and environmentalist Ted Turner, who invested in DT Solar in January.

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