First Solar Stock Price, News & Analysis

First Solar has secured a contract to deliver 1.6 GW of its Series 7 thin film solar modules to National Grid Renewables, following a prior agreement for 2 GW. Deliveries are scheduled for 2026 and 2027. This deal extends their partnership to over 4 GW in total. The Series 7 modules are noted for their efficiency and environmentally responsible production methods. First Solar is also investing $1.3 billion to expand its manufacturing capacity in the U.S., aiming for over 10 GW annual capacity by 2025.

National Grid Renewables has commenced commercial operations at its Noble Solar and Storage Project in Denton County, Texas. This 275 MW solar and 125 MWh energy storage facility is a significant stride for the company, marking its first utility-scale energy storage project. The Noble project is expected to prevent 450,000 metric tons of CO2 emissions annually and generate $26 million in tax revenue over the first 20 years. Power Purchase Agreements (PPAs) have been secured with The Home Depot, NRG Energy, and The Hershey Company.

First Solar (FSLR) has secured agreements to provide 4.9 GW_DC of solar modules to Intersect Power, totaling 7.3 GW_DC for 2022. This positions Intersect as the largest buyer of First Solar technology by 2029, with a projected capacity of 11.4 GW_DC. The modules will be used in various projects starting from 2025. Additionally, First Solar plans to invest $4 billion in U.S. manufacturing, extending annual capacity to over 10 GW_DC by 2025, and establishing a $270 million R&D center in Ohio.

First Solar plans to invest approximately $1.1 billion in a new solar module manufacturing facility in Lawrence County, Alabama, with a planned capacity of 3.5 GW_DC. This factory aims to be operational by 2025 and will create over 700 direct jobs. This investment is part of a broader initiative to scale First Solar’s manufacturing footprint to exceed 10 GW_DC by 2025, contributing to US energy self-sufficiency. The company's total US manufacturing investment is set to surpass $4 billion by 2025.

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.