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Energy News: First Solar, Inc. (FSLR)’s Solar PV Clusters, Executives’ Farewell to SandRidge Energy Inc. (SD), Exxon Mobil Corporation (XOM) Begins Kearl Oil Sands

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Editor’s Note: Related Tickers: First Solar, Inc. (NASDAQ:FSLR), SandRidge Energy Inc. (NYSE:SD), Exxon Mobil Corporation (NYSE:XOM), SunPower Corporation (NASDAQ:SPWR), Chesapeake Energy Corporation (NYSE:CHK)

First Solar plans power clusters near industrial estates (Hindu Business Line)
First Solar, Inc. (NASDAQ:FSLR), the US-based solar photovoltaic products and integration solutions company, is set to take up solar photovoltaic (PV) clusters in India close to existing industrial hubs. Sujoy Ghosh, Country Head-India, First Solar Power India, who is on a visit to the city, said: “These solar PV clusters will be located close to industrial estates and seek to bridge the power supply gap for local companies.” “Since such solar PV projects are modular in nature, we will have the flexibility to set up the required capacity and have the capability to ramp up,” he told Business Line.

First Solar, Inc. (NASDAQ:FSLR)Credit: First Solar, Inc. (NASDAQ:FSLR)

Two more SandRidge Energy executives will leave in May (NewsOK)
Two senior executives at SandRidge Energy Inc. (NYSE:SD) are leaving the company, according to a regulatory filing made Friday. Hedge fund TPG-Axon Capital, one of SandRidge’s largest shareholders, was critical of compensation paid to top SandRidge executives as it fought to gain control of the company earlier this year. The impending departure of Todd N. Tipton and Rodney E. Johnson means three of SandRidge Energy Inc. (NYSE:SD)’s top five executives will have left the company since the March 13 settlement between TPG-Axon and SandRidge that ended the proxy fight. Former President Matthew K. Grubb left the company after the settlement was announced, while CEO Tom Ward is expected to leave this summer.

SunPower begins major construction of 579 MW of PV plants in Southern California (
SunPower Corporation (NASDAQ:SPWR) (San Jose, California, US) has begun “major” construction of the Antelope Valley Solar Projects, which will represent 579 MW of solar photovoltaic (PV) capacity when complete. The two PV plants are located on 13.1 square kilometers in California’s Los Angeles and Kern Counties. SunPower expects to complete the two plants by the end of 2015. “The start of construction on the Antelope Valley Solar Projects underscores that solar is a reliable, cost-competitive energy source,” said SunPower Corporation (NASDAQ:SPWR) President of Regions Howard Wenger.

Energy stocks gain; Southwestern rises 4% (MarketWatch)
Energy stocks advanced Monday, with Southwestern Energy Company (NYSE:SWN) leading the way after the company said it was buying natural-gas assets in the Marcellus Shale from Chesapeake Energy Corporation (NYSE:CHK). Chesapeake Energy Corp. shares rose 0.6%. Chesapeake, the No. 2 largest natural-gas producer after Exxon Mobil Corporation (NYSE:XOM), has embarked on an asset-sale program in hopes of strengthening its balance sheet after lower natural-gas prices in prior years and other problems caused liquidity to dry up.

Exxon Mobil Begins Production at Kearl Oil Sands (Bloomberg)
Exxon Mobil Corporation (NYSE:XOM), the world’s largest company by market value, began production at its Kearl oil sands project in Alberta, which is projected to produce 4.6 billion barrels of recoverable oil in the next 40 years. The project will produce 110,000 barrels per day later this year and that’s expected to…

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