Friday, January 7, 2011

First Solar Buys Raytracker

Tempe, Arizona-based First Solar, the manufacturer of photovoltaic power modules, said Friday that it has acquired RayTracker, a developer of solar tracking technology. Financial terms of the deal were not disclosed. First Solar said that RayTracker's entire team will join its Engineering, Procurement and Construction (EPC) group. RayTracker was backed by Idealab, The Quercus Trust and Phoenix Fire IV, LLC.