First Solar Stock Price, News & Analysis

First Solar has officially begun construction on a new manufacturing facility in Lake Township, Ohio, with an investment of $680 million. This facility is set to have a capacity of 3.3 GW and will expand First Solar’s total U.S. manufacturing footprint to 6 GW. Expected to create over 700 permanent jobs and 500 construction jobs, the plant is projected to operationalize in the first half of 2023. This expansion not only strengthens local employment but also enhances the company's competitiveness in the global solar market, making it one of the largest solar manufacturing complexes outside of China.

First Solar has committed to reducing its Scope 1 and Scope 2 greenhouse gas emissions by 20% by 2028, relative to 2020 levels, as part of its goal to achieve net-zero emissions by 2050. This follows a successful achievement of its previous GHG intensity reduction target.

The company has cut emissions intensity by approximately 77% since 2008, aiming for a 100% renewable energy transition by 2026 in the US and 2028 globally. Its advanced photovoltaic products already displace significant emissions, showcasing First Solar's commitment to sustainability.

First Solar reported Q2 2021 net sales of $629 million, a decrease of $174 million from the previous quarter, primarily due to the sale of projects. Net income per diluted share dropped to $0.77, down from $1.96. The company is expanding manufacturing with a new 3.3 GWDC factory in Ohio and an additional facility in India, contingent upon approvals. The guidance for 2021 net sales has been updated to $2.875B to $3.1B, while earnings per share guidance is revised to $4.00 to $4.60. Cash reserves increased to $2.1 billion.

First Solar plans to invest $684 million in a new photovoltaic manufacturing facility in Tamil Nadu, India, expected to start operations in 2023. The facility aims for a nameplate capacity of 3.3 GW and will contribute to India's clean energy self-reliance goals. First Solar's technology utilizes a unique Cadmium Telluride semiconductor, minimizing carbon and water footprints. As the only major U.S. solar manufacturer not reliant on Chinese supply chains, First Solar is poised to capitalize on India's growing renewable energy demand, as forecasted by the International Energy Agency.

First Solar has appointed Anita Marangoly George to its board of directors, effective July 15, 2021. With nearly 40 years of experience in institutional finance and sustainable infrastructure investing, George previously served at la Caisse de Dépôt et Placement du Québec and the World Bank. Her expertise in climate finance aligns with First Solar's commitment to sustainability and innovation in solar technology. CEO Mark Widmar expressed confidence in her ability to guide the company as it aims to lead in solar solutions against climate change.

First Solar, Inc. (NASDAQ: FSLR) is set to announce its second-quarter financial results for the period ending June 30, 2021, on July 29, 2021, following market closure. A quarterly conference call will take place at 4:30 p.m. ET to discuss these results and the 2021 outlook. Investors can access the live webcast on the investor's website. An audio replay will be available until August 12, 2021.

First Solar is recognized for its innovative solar technologies and commitment to sustainability.

First Solar (Nasdaq: FSLR) has announced an $11 million investment to support community revitalization and address racial inequality in the U.S. The allocation includes $10 million in Impact Notes from LISC and a $1 million Transformational Deposit in HOPE Credit Union. CEO Mark Widmar emphasized the company's commitment to socially responsible initiatives. The investment will assist underbanked communities, particularly in the South, by providing essential financial services and supporting local businesses and healthcare during the ongoing COVID-19 pandemic.

First Solar announced a $680 million investment to establish a new manufacturing facility in Lake Township, Ohio, expanding its US photovoltaic (PV) solar capacity by 3.3 GW per year. This facility, expected to begin operations in early 2023, will double First Solar's manufacturing footprint to 6 GW, producing advanced thin film PV modules for the utility-scale market. The project aims to generate around 500 jobs and enhance domestic supply chains while adhering to sustainability principles.

First Solar (Nasdaq: FSLR) has joined the Responsible Business Alliance (RBA), the largest industry coalition focused on improving workers’ rights and environmental standards in global supply chains. This membership enables First Solar to utilize RBA's due diligence tools and the Validated Assessment Program for better supplier evaluation. As the first among the ten largest PV solar manufacturers to join RBA, First Solar aims to enhance its responsible sourcing practices and comply with the RBA's standards for ethics, labor, and environmental safety.