First Solar, Inc. designs and manufactures photovoltaic solar modules using cadmium telluride thin-film technology for utility-scale power generation and other solar markets. Company news commonly covers module sales, quarterly financial results, guidance, manufacturing capacity, U.S. factory investment, and the role of its integrated production process outside crystalline silicon supply chains.
Recurring developments also include Series 7 module deployments in solar projects, research and development activity in California and Ohio, patent licensing for next-generation perovskite photovoltaic devices, and Section 45X advanced manufacturing production tax credits tied to U.S.-made module components.
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First Solar, Inc. (NASDAQ: FSLR) will announce its financial results for Q1 2023 on April 27, 2023, after market close. A conference call will follow at 4:30 p.m. ET, accessible through their investor website. Audio replay options will be available until May 27, 2023. First Solar specializes in advanced thin film photovoltaic solar modules, promoting sustainability and eco-efficiency. The company aims to combat climate change through innovative technology and responsible production practices.
First Solar and EDP Renewables have entered a multi-year agreement for 1.8 GWdc of advanced thin film photovoltaic solar modules, set for delivery up to 2028. This collaboration aims to support EDP Renewables' growth in the U.S. solar market, enhancing its installed capacity and development pipeline. Notably, EDP plans to add 4.8 GW of solar capacity by 2026. First Solar, known for its low-carbon modules, is expanding its U.S. manufacturing capabilities to exceed 20 GW globally by 2025, including a new factory in Alabama. This deal affirms First Solar's commitment to sustainability and establishes a vital supply arrangement for EDP Renewables.
First Solar (NASDAQ: FSLR) announced on March 29, 2023, that its manufacturing facility in India has been awarded financial incentives under the Indian government's Production Linked Incentive (PLI) program. This program aims to boost domestic solar module production and reduce reliance on imports. First Solar is among three manufacturers eligible for the full range of incentives, which depend on product efficiency and domestic value creation. The new facility in Tamil Nadu, set to be operational in the latter half of 2023, will have a capacity of 3.4 GW. First Solar's eco-efficient modules are noted for their low carbon and water footprints.
First Solar (FSLR) has entered into a multi-year agreement with Savion, LLC to supply 2.6 GWdc of Series 7 thin-film solar modules, set for delivery between 2025 and 2027. This deal aligns with the benefits from the Inflation Reduction Act, which supports U.S. renewable energy manufacturing. First Solar plans to enhance its domestic manufacturing, with a new $1.1 billion factory in Alabama and a $185 million expansion in Ohio, aiming for a total investment exceeding $4 billion. The company expects its annual production capacity to reach 10.6 GWdc by 2026, and it will invest $270 million in a new R&D center in Ohio by 2024.
First Solar, Inc. (FSLR) reported net sales of $2.6 billion for 2022, with a net loss of $0.41 per diluted share. In Q4 2022, net sales were $1.0 billion, driven by increased module sales and the sale of the Luz del Norte project. The company ended 2022 with a net cash balance of $2.4 billion. For 2023, First Solar forecasts net sales between $3.4 billion and $3.6 billion, with EPS guidance of $7.00 to $8.00. The expected year-end net cash balance for 2023 is projected at $1.2 billion to $1.5 billion, reflecting a strong financial position and increased investment in R&D.
First Solar has announced a significant order from Lightsource bp for 4 gigawatts (GW)DC of its advanced thin film solar modules, set for delivery between 2026 and 2028. This order comes after a previous commitment of 4.3 GWDC in 2021, reinforcing Lightsource bp's position as a major user of First Solar's technology. The latest deal emphasizes the growth of the U.S. solar industry, bolstered by the Inflation Reduction Act. First Solar is investing over $1.1 billion in a new factory in Alabama and expanding operations in Ohio, projecting a total capacity of 10.6 GWDC by 2026 and creating over 850 new jobs.