First Solar, Inc. - FSLR STOCK NEWS

First Solar (FSLR) has secured its largest order in history, totaling up to 5.4GW of solar modules from Lightsource bp and bp. The order comprises 4.3GW for Lightsource bp's US utility-scale projects and 1.1GW for bp's projects. Deliveries of the ultra-low carbon thin film PV modules are scheduled from 2023 to 2025, with specific commitments of 1.55GW in 2023, 1.3GW in 2024, and 1.55GW in 2025. This partnership is pivotal in advancing renewable energy goals, including bp's aim to develop 50GW of renewable power by 2030.

First Solar reported third-quarter net sales of $584 million, down $46 million from the prior quarter, primarily due to lower systems segment revenue. Net income per diluted share was $0.42, compared to $0.77 in the previous quarter. Despite challenges, production reached 2.0 GWDC with an increased top production bin of 465 watts. YTD net bookings hit 10.5 GWDC. Cash and equivalents totaled $1.9 billion. The company maintains its 2021 EPS guidance of $4.00 to $4.60.

First Solar (NASDAQ: FSLR) will announce its financial results for Q3 2021 on November 4, 2021, after market close. The company plans to hold a conference call at 4:30 p.m. ET to discuss these results and its 2021 outlook. Investors can access the live webcast via the company's investor relations webpage. A replay of the call will be available until November 11, 2021, along with a webcast replay accessible for 90 days post-call. First Solar is recognized for its eco-efficient solar modules and commitment to sustainability.

Terabase Energy has announced the acquisition of PlantPredict, a predictive solar energy modeling tool, from First Solar (FSLR). Though financial terms were not disclosed, this acquisition complements Terabase's strategy to enhance its digital solutions in solar energy. PlantPredict has been used globally for over a decade, aiding in the financing of numerous solar power plants. This transaction, expected to close in October 2021, will also see the PlantPredict team join Terabase, aligning with the company's goal to lower solar costs below $0.01 per kWh by 2025.

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.