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National Grid Renewables Orders 2 GW of Responsibly Produced First Solar Modules

2022-06-23 12:30:00

First Solar, Inc. signed a framework agreement with National Grid Renewables for 2 gigawatts (GW)DC of advanced, responsibly-produced thin film photovoltaic (PV) solar modules. Scheduled for delivery in 2024 and 2025 throughout the United States, the contracted modules are part of First Solar’s advanced Cadmium Telluride (CadTel) thin film module technology platform. The deal was booked prior to the release of First Solar’s First Quarter 2022 earnings in April. Over the past decade, National Grid Renewables and First Solar have partnered on multiple projects, including the recently operational 200-megawatt (MW) Prairie Wolf Solar Project in Illinois and the currently under construction Noble Solar (275 MW) and Storage (125 MWh) Project in Texas. As a farmer-friendly and community-focused company, National Grid Renewables develops projects for corporations and utilities that seek to repower America’s electricity grid by reigniting local economies and reinvesting in a sustainable future. AMinneapolis-headquartered business, National Grid Renewables is part of the Ventures division of National Grid and has a portfolio of solar, wind, and energy storage projects located throughout the US in various stages of development, construction and operation. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. First Solar’s modules have a carbon footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China.

First Solar, Inc. Announces Director Appointments

2022-05-27 20:18:00

First Solar, Inc. announced that at its AGM held on 26 May 2022, the company has appointed Lisa A. Kro and Norman L. Wright as directors to serve on the board of directors until the next annual meeting of stockholders or until his or her successor has been elected and qualified.

Scout Clean Energy Orders 378 Mw of Responsibly Produced First Solar Modules

2022-05-17 12:30:00

First Solar, Inc. signed an agreement with Scout Clean Energy to supply 378 megawatts (MW)DC of advanced, responsibly-produced thin film photovoltaic (PV) solar modules. The deal was booked prior to the release of First Solar’s First Quarter 2022 earnings in April. Scout, a renewable energy developer and owner-operator headquartered in Boulder, Colorado, is actively developinga portfolio over 12,000 MW of solar PV, battery storage and onshore wind projects spread across 21 US states. Scout is a portfolio company of Quinbrook Infrastructure Partners. Scout plans to use the First Solar modules to begin construction on several late stage projects with start of operations expected in 2024. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly produced [3] advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. The modules have the smallest carbon footprint, fastest energy payback time, and lowest lifecycle water footprint in the industry.

The funds managed by Real Assets group of PAG entered into an agreement to acquire 293 Megawatts Utility Scale Solar Development Platform in Japan from First Solar, Inc. (NasdaqGS:FSLR).

2022-05-16 00:00:00

The funds managed by Real Assets group of PAG entered into an agreement to acquire 293 Megawatts Utility Scale Solar Development Platform in Japan from First Solar, Inc. (NasdaqGS:FSLR) on May 16, 2022. In a related transaction, The funds managed by Real Assets group of PAG entered into an agreement to acquire solar operations and maintenance (O&M) platform with approximately 665 Megawatt under management, in Japan from First Solar, Inc. on May 16, 2022. Upon completion, employees of solar development platform will join PAG. After obtaining regulatory approvals, the receipt of third-party consents and satisfying other customary closing conditions, transaction is expected to close in the second quarter of 2022. Benjamin Lang of Jones Day acted as legal advisor to PAG.

PAG entered into a definitive agreement to acquire O&M platform from First Solar, Inc. (NasdaqGS:FSLR).

2022-05-16 00:00:00

PAG entered into a definitive agreement to acquire O&M platform from First Solar, Inc. (NasdaqGS:FSLR) on May 16, 2022. The transaction is subject to regulatory approvals and third party consents and is expected to close in second half of 2022.

First Solar, Inc. Presents at ROTH 8th Annual London Conference, Jun-21-2022 through Jun-23-2022

2022-05-03 18:19:00

First Solar, Inc. Presents at ROTH 8th Annual London Conference, Jun-21-2022 through Jun-23-2022. Venue: London, United Kingdom. Presentation Date & Speakers: Jun-22-2022, Alexander R. Bradley, Chief Financial Officer, Reuven Proenca, Director, Corporate Marketing, Richard Romero, Treasurer. Jun-23-2022, Alexander R. Bradley, Chief Financial Officer, Reuven Proenca, Director, Corporate Marketing, Richard Romero, Treasurer.

First Solar, Inc. Reiterates Earnings Guidance for the Year 2022

2022-04-28 20:05:00

First Solar, Inc. reiterated earnings guidance for the year 2022. For the year, the company reiterates net sales of $2.4 Billion to $2.6 Billion. Earnings per diluted shares of $0.00 to $0.60.

Leeward Renewable Energy and First Solar Announce 1GW Multi-Year Solar Module Procurement Agreement

2022-04-25 13:00:00

Leeward Renewable Energy (LRE) and First Solar, Inc. announced that they have entered into an additional multi-year framework supply agreement, through which First Solar will provide LRE with 1 gigawatt (GW)DC of advanced, ultra-low carbon thin-film photovoltaic (PV) solar modules. LRE will deploy these modules across its 20GW solar development and construction pipeline in the U.S. over 2023 and 2024. This agreement builds on a long, productive relationship between LRE and First Solar that is advancing decarbonization through the use of clean solar energy. This latest agreement expands LRE’s order book with First Solar to over 3GW of modules that are estimated to enable the build of 18 new sites from 2022 - 2024. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability,reliability, design, and environmental performance. The modules have a carbon footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China.

First Solar, Inc. - Shareholder/Analyst Call

2022-04-15 20:35:00

AGM

First Solar, Inc., Annual General Meeting, May 26, 2022

2022-04-15 20:35:00

First Solar, Inc., Annual General Meeting, May 26, 2022, at 12:00 US Eastern Standard Time. Agenda: To elect twelve members of the board of directors to hold office until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to ratify the appointment of PricewaterhouseCoopers LLP as First Solar, Inc.’s independent registered public accounting firm for the year ending December 31, 2022; and to transact such other business as may properly come before the annual meeting.

First Solar, Inc. to Report Q1, 2022 Results on Apr 28, 2022

2022-04-14 13:05:00

First Solar, Inc. announced that they will report Q1, 2022 results After-Market on Apr 28, 2022

First Solar, Inc., Q1 2022 Earnings Call, Apr 28, 2022

2022-04-14 13:05:00

First Solar, Inc., Q1 2022 Earnings Call, Apr 28, 2022

NGM Partners with First Solar to Manufacture All Modules Required to Support the 200 Megawatts (MW) Construction

2022-04-13 12:54:00

NGM announced they are partnering with First Solar to manufacture all modules required to support the 200 megawatts (MW) construction, entirely in the United States. NGM has commenced detailed engineering and expects to begin construction in the third quarter of 2022. The modules supplied by First Solar are expected to be delivered in the beginning of the second quarter of 2023 and will power both phases of the power plant. Ensuring that the selected contract partner for this project fully supported NGM's values was a top priority for the company. NGM chose to contract with a supplier who is committed to fair labor practices, investing in American manufacturing and American jobs, and is one which will deliver high performance solar panels with the lowest carbon footprint and the best environmental profile available.Although this process has been time-consuming, it has allowed the company to optimize the project schedule to commission both phase I and phase II by early 2024.NGM has committed to a 20% carbon reduction by 2025. This will be achieved through the 200 (MW) solar array construction and the conversion of NGM's coal fired power plant to cleaner burning natural gas.

Origis Energy Builds on Long-Term Alliance with Order for 750 MW of First Solar Modules

2022-04-11 12:30:00

First Solar, Inc. announced that Origis Energy has placed an order for 750 megawatts (MW)DC of responsibly-produced thin film photovoltaic (PV) solar modules. The deal, which was booked prior to the release of First Solar’s Fourth Quarter and Full Year 2021 earnings in February, utilizes First Solar’s agile contracting approach and Origis will benefit from any advances in technology through 2024, when the Cadmium Telluride (CadTel) thin film modules will be delivered to its projects across the United States. First Solar and Origis share a long-standing relationship spanning five years and over 1.5 gigawatts (GW)DC of thin film modules. Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance.

ROTH Capital Partners, LLC, ROTH 8th Annual London Conference, Jun 21, 2022 through Jun 23, 2022

2022-04-07 20:18:00

ROTH Capital Partners, LLC, ROTH 8th Annual London Conference, Jun 21, 2022 through Jun 23, 2022. Venue: London, United Kingdom.

First Solar, Inc. Announces Kathryn A. Hollister Not to Stand for Re-Election as A Member of the Board of Directors

2022-04-01 20:19:00

On March 29, 2022, Kathryn A. (Katy) Hollister notified First Solar, Inc. (the Company) that she will not stand for re-election as a member of the Company’s Board of Directors at the Company’s 2022 Annual Meeting of Stockholders (the 2022 Annual Meeting). Ms. Hollister serves as a member of the Board’s Audit Committee and its Compensation Committee. Ms. Hollister intends to continue to serve as a member of the Board and each of the Audit Committee and Compensation Committee until the date of the 2022 Annual Meeting. Ms. Hollister’s decision to not stand for re-election was not the result of any disagreement with the Company or its management. The Board and management are grateful for Ms. Hollister’s service to the Company and wish her well.

First Solar, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

2022-01-29 23:03:00

Robbins Geller Rudman & Dowd LLP announced that purchasers of First Solar, Inc. common stock between February 22, 2019 and February 20, 2020, inclusive (the “Class Period”) have until March 8, 2022 to seek appointment as lead plaintiff in City of Pontiac General Employees’ Retirement System v. First Solar, Inc., No. 22-cv-00036 (D. Ariz.). Commenced on January 7, 2022, the First Solarclass action lawsuit charges First Solar as well as certain of its top executives with violations of the Securities Exchange Act of 1934. The First Solarclass action lawsuit arises from defendants’ alleged repeated misrepresentations to investors regarding the development of its newest “Series 6” solar module, the cost per unit it could achieve with that module, and the impact the changeover to this new product would have on the viability of its other business segments. In reality, First Solar knew or recklessly disregarded that the Series 6 solar module was not commercially ready at the time of its release, had a component that was failing in the field and causing fires, was not able to hit its projected and touted wattage targets, and had an inconsistent output – all of which put First Solar at a competitive disadvantage. On January 15, 2020, Barclays reported that, among other things, “First Solar ha[d] seemingly been, in large part, priced-out of the U.S. downstream solar market,” and that First Solar had concealed its rapidly declining market share through misleading financial reporting. According to analysts at Barclays, First Solar was obfuscating this fact by improperly reporting its project development pipeline to make it seem like First Solar maintained a stronger market share, despite the fact that some projects on the pipeline had been completed in prior years. On this news, the price of First Solar stock fell nearly 7%.

First Solar, Inc. Presents at E-Waste World Conference, Nov-30-2021

2021-12-02 17:57:00

First Solar, Inc. Presents at E-Waste World Conference, Nov-30-2021 . Speakers: Andreas Wade, Global Sustainability Director.

E-Waste World, E-Waste World Conference, Nov 30, 2021 through Dec 01, 2021

2021-11-30 20:45:00

E-Waste World, E-Waste World Conference, Nov 30, 2021 through Dec 01, 2021.

First Solar, Inc. Maintains Earnings Guidance for the Fourth Quarter and Full Year of 2021

2021-11-04 20:15:00

First Solar, Inc. maintained earnings guidance for the fourth quarter and full year of 2021. For the fourth quarter of 2021, the company expects EPS of $1.14 compared to $0.42 in the third quarter.The company has maintained 2021 EPS guidance of $4.00 to $4.60.

First Solar, Inc. to Report Q3, 2021 Results on Nov 04, 2021

2021-10-21 13:10:00

First Solar, Inc. announced that they will report Q3, 2021 results After-Market on Nov 04, 2021

First Solar, Inc., Q3 2021 Earnings Call, Nov 04, 2021

2021-10-21 13:10:00

First Solar, Inc., Q3 2021 Earnings Call, Nov 04, 2021

Getka Group and Polish Energy Company Unimot Announces That First Solar, Inc. Will Supply 30 Megawatts

2021-09-24 13:05:00

Getka Group and Polish energy company Unimot announced that First Solar, Inc. will supply 30 megawatts (MW) of advanced, American thin film photovoltaic (PV) solar panels to power a portfolio of projects in Poland. The panels are part of the first phase of a strategic renewable energy initiative to diversify PV module supplies to Poland. In this initial phase, the partners will utilize First Solar technology produced at its manufacturing facilities in Ohio, which is solar manufacturing footprint in the Western Hemisphere. The PV panels will be delivered in the first quarter of 2022, with plans to expand as Unimot expands solar projects.

First Solar, Inc. Announces its Third Manufacturing Facility in Ohio

2021-08-17 16:45:00

First Solar, Inc. announced its third manufacturing facility in Ohio. The new 3.3 gigawatt (GW)DC facility, which is scheduled to commence operations in the first half of 2023, represents a $680 million investment. When fully operational, the facility is expected to scale the company’s Northwest Ohio footprint to a total annual capacity of 6 GWDC, which is believed to make it the largest fully vertically integrated solar manufacturing complex outside China. The facility is forecast to create over 700 permanent jobs in addition to the over 1,600 people that First Solar currently employs in Ohio. Founded in 1999, First Solar has had a manufacturing presence in the state since it began commercial production at its original Perrysburg factory in 2002, when it produced 1.5 megawatts (MW)DC of modules and employed 150 people. Since then the company has invested over $2 billion in expanding its Ohio manufacturing presence, making the state home to the largest photovoltaic solar manufacturing footprint in the Western Hemisphere when it commissioned its second factory in 2019. The facility will be one of the most advanced of its kind in the solar industry, allowing First Solar to produce an anticipated average of one module roughly every 2.75 seconds across its three-factory Ohio footprint once it achieves its full production capacity. The facility will combine highly skilled workers with Industry 4.0 architecture, machine-to-machine communication, artificial intelligence, and Internet of Things connectivity to produce a higher degree of automation, precision, and continuous improvement. The 1.8 million square foot facility is expected to produce an enhanced thin film PV module for the utility-scale solar market in the US, which is anticipated to have a higher efficiency and wattage in a larger form factor. The additional production capacity from this new facility, when available, is also expected to help mitigate the challenges currently being experienced in the global ocean freight market, by reducing the transoceanic gap between international supply and domestic demand. The new facility will be constructed by Rudolph Libbe, Inc., and is expected to create 500 construction jobs for union tradespeople in Northwest Ohio over the next 18 months.

First Solar, Inc. Revises Earnings Guidance for the Year 2021

2021-07-29 20:10:00

First Solar, Inc. revised earnings guidance for the year 2021. The company expected net sales of $2.875 billion to $3.1 billion compared to previous guidance of $2.85 billion to $3.025 billion. Operating income of $545 million to $625 million compared to previous guidance of $545 million to $640 million. EPS of $4.00 to $4.60 compared to previous guidance of $4.05 to $4.75.

First Solar Intends to Expand Global Manufacturing Footprint with New 3.3 GW Facility in India

2021-07-29 20:05:00

First Solar, Inc. announced that it intends to invest $684 million in a new, fully vertically integrated photovoltaic (PV) thin film solar module manufacturing facility in India. Contingent upon permitting, and pending approval of Indian government incentives that are satisfactory to First Solar, the advanced facility is expected to be built in the state of Tamil Nadu and commence operations in the second half of 2023. The planned facility is projected to have a nameplate capacity of 3.3 gigawatts (GW)DC. With First Solar’s expansion in the United States and India and optimization of its existing fleet, the company anticipates that its nameplate manufacturing capacity will double to 16 GWDC in 2024. Unique among the world’s ten largest solar manufacturers for being the only US-headquartered company, for not using a crystalline silicon (c-Si) semiconductor, and for not manufacturing in China, First Solar produces its thin film PV modules using a fully integrated, continuous process under one roof and does not rely on Chinese c-Si supply chains. The company’s eco-efficient module technology, which uses its proprietary Cadmium Telluride (CadTel) semiconductor, has the lowest carbon and water footprints of any PV module available now.

First Solar, Inc. Announces Amended and Restated Bylaws

2021-07-23 20:56:00

On July 22, 2021, the Board of Directors (the “Board”) of First Solar, Inc. (the “Company”) amended and restated the Company’s Amended and Restated Bylaws (as amended and restated, the “A&R Bylaws”) to, among other things, adopt provisions: (i) clarifying that the Board is empowered to appoint officers with titles in addition to those titles listed in the current Amended and Restated Bylaws; (ii) designating the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware does not have jurisdiction, the federal district court for the District of Delaware) as the exclusive forum for certain corporate law matters and actions or proceedings asserting an “internal corporate claim” unless the Company consents in writing to the selection of an alternative forum; (iii) designating the federal district courts of the United States as the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended (the “Securities Act”) unless the Company consents in writing to the selection of an alternative forum; and (iv) providing that if any provision of the A&R Bylaws is held to be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions will not be impaired and will be construed to give effect to the intent manifested by the provision held invalid, illegal, or unenforceable.

First Solar, Inc. Appoints Anita Marangoly George to the Board of Directors and Nominating and Governance and Technology Committees

2021-07-19 21:38:00

First Solar, Inc. has appointed Anita Marangoly George, a senior executive with almost four decades of diverse global experience in institutional finance and sustainable infrastructure investing, to its board of directors, effective July 15, 2021. Ms. George will serve on First Solar’s Nominating and Governance, and Technology Committees. She is currently a strategic advisor and served as executive vice president and deputy head of CDPQ’s global investment arm, CDPQ Global. Prior to that, Ms. George served as executive vice president and head of CDPQ’s Emerging Markets and Strategic Partnerships. She joined CDPQ in 2016 as its managing director for South Asia, establishing its presence and developing investment partnerships in India. During her time at CDPQ, she designed CDPQ’s emerging market strategy, growing its business, partnerships, and presence in Asia and Latin America.

First Solar, Inc. to Report Q2, 2021 Results on Jul 29, 2021

2021-07-15 13:05:00

First Solar, Inc. announced that they will report Q2, 2021 results After-Market on Jul 29, 2021

First Solar, Inc., Q2 2021 Earnings Call, Jul 29, 2021

2021-07-15 13:05:00

First Solar, Inc., Q2 2021 Earnings Call, Jul 29, 2021

First Solar, Inc. Terminates its Second Amended and Restated Credit Agreement

2021-07-07 10:07:00

On June 30, 2021, First Solar, Inc. (the “Company”) terminated its Second Amended and Restated Credit Agreement (the “Revolving Credit Facility”) with several financial institutions as lenders and JPMorgan Chase Bank, N.A. as administrative agent, which was set to mature in July 2022. The secured Revolving Credit Facility provided the Company with an aggregate borrowing capacity of $500.0 million. Subject to certain conditions, the Company had the right to increase the aggregate commitments under the Revolving Credit Facility to $750.0 million. Borrowings under the Revolving Credit Facility bore interest at (i) London Interbank Offered Rate, adjusted for Eurocurrency reserve requirements, plus a margin of 2.00% or (ii) a base rate as defined in the credit agreement plus a margin of 1.00% depending on the type of borrowing requested. In addition to paying interest on outstanding principal under the Revolving Credit Facility, the Company paid a commitment fee at a rate of 0.30% per annum, based on the average daily unused commitments under the facility. The Company also paid a letter of credit fee based on the applicable margin for Eurocurrency revolving loans on the face amount of each letter of credit and a fronting fee of 0.125%. As of June 30, 2021, the Company had no borrowings under the Revolving Credit Facility and had $3.3 million in issued and outstanding letters of credits, which were moved to a bilateral facility upon termination of the Revolving Credit Facility.

CubicPV Inc. announced that it has received $25.4125 million in funding from First Solar, Inc., Breakthrough Energy Ventures, LLC, Hunt Energy Enterprises and other investors

2021-07-02 00:00:00

On July 2, 2021, CubicPV Inc. closed the transaction. The transaction included participation from 9 investors.