First Solar Stock Price, News & Analysis

First Solar (FSLR) plans to invest approximately $270 million in a new 1.3 million square-foot R&D facility in Perrysburg, Ohio, aimed at accelerating technology validation for next-generation thin film solar modules. The center will feature a pilot manufacturing line, improving production efficiency and reducing downtime. Completion is anticipated in 2024, contingent on approval of local incentives. This investment aligns with First Solar's goal of enhancing its manufacturing capacity and maintaining its leadership in advanced photovoltaics.

First Solar reported third-quarter net sales of $629 million, reflecting an $8 million increase quarter-over-quarter, mainly due to higher module sales. The company faced a net loss per diluted share of $0.46, down from a profit of $0.52 in the previous quarter, attributed to increased logistics costs and a lack of gains from asset sales. Year-to-date net bookings reached a record 43.7 GWDC. However, the company has revised its full-year earnings guidance, now projecting losses between $(0.65) and $(0.35) per diluted share, highlighting challenges ahead.

Arevon Energy has secured over 2 GW of First Solar's advanced thin film PV modules, enhancing its solar portfolio. This includes approximately 700 MW from prior orders ahead of First Solar's Q2 2022 earnings. The modules will support Arevon's projects across the Midwest and Southwest, aligning with a significant rise in U.S. solar demand, as reported by Wood Mackenzie. First Solar's investment in U.S. manufacturing could reach $4 billion, increasing its capacity to over 10 GW by 2025, thereby bolstering the domestic solar market.

First Solar has secured a multi-year agreement with Swift Current Energy to supply 2 gigawatts (GW) of thin film solar modules for 2025 and 2026. This follows a previous order of 1.27 GW from Swift Current, reflecting their growing pipeline in renewable energy. First Solar is expanding its manufacturing capacity with a $1.2 billion investment in Ohio and a new facility in the Southeast, aiming for over 20 GW of global capacity by 2025. The company emphasizes quality and sustainability in its production processes.

Silicon Ranch and First Solar have expanded their partnership with a new 4-gigawatt supply agreement, building on their previous agreement from April 2022. This strategic collaboration reinforces their commitment to responsibly produced solar technology developed in the U.S. and supports the domestic energy transition. Silicon Ranch has secured an additional 700 megawatts of advanced solar modules to enhance its projects. The partnership aims to improve the carbon footprint of the supply chain and promote job creation and innovation in American solar technology.

First Solar, Inc. (NASDAQ: FSLR) will announce its financial results for the third quarter on October 27, 2022, post-market closure. A conference call will be held at 4:30 p.m. ET to discuss these results and provide outlook insights for 2022. Investors can access the call via a live webcast at investor.firstsolar.com. A replay will be available until November 26, 2022. First Solar is a leader in solar technology, offering eco-efficient solar modules contributing to sustainability.

First Solar, Inc. (Nasdaq: FSLR) has finalized the sale of its solar operations and maintenance (O&M) platform in Japan to funds managed by PAG Real Assets. The O&M platform includes approximately 665 megawatts (MW) of solar assets under management. Following the sale, most of First Solar's O&M employees in Japan are now part of PAG. PAG, with over $50 billion in assets under management, is a prominent private investment manager focused on the Asia-Pacific region.

First Solar (FSLR) has finalized the sale of a 293 MW DC solar project development platform in Japan to PAG Real Assets. This sale includes the transfer of most project development employees to PAG, a significant investment firm with over $50 billion in assets. Furthermore, First Solar has a pending agreement for PAG to acquire its solar operations and maintenance platform, managing approximately 665 MW DC, expected to close in late 2022, pending regulatory approvals and other conditions.

Azure Power has signed an agreement with First Solar for 600 MW DC of advanced thin film solar modules. This marks the first order from First Solar's Tamil Nadu facility, set to commence in H2 2023. The deal will allow Azure Power to receive deliveries of Series 7 modules from late 2023 through 2025. First Solar's new facility will have a nameplate capacity of 3.3 GW DC and is designed to produce modules tailored for India. This partnership enhances Azure Power's supply chain stability and assures them of advanced technology in the competitive energy market.