First Solar, Inc. - FSLR STOCK NEWS

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.

On May 3, 2021, Nel Hydrogen Electrolyser, a division of Nel ASA (OSE:NEL), announced a collaboration with First Solar, Inc. (NASDAQ:FSLR) to develop integrated PV Hydrogen power plants. This partnership aims to utilize both companies' expertise to deliver low-cost solar-to-hydrogen solutions, enhancing renewable energy efficiency. The initial phase will focus on creating a control system optimizing PV-electrolyser hybrid projects. Both companies expect to innovate further in technology integration for sustainable hydrogen production.

First Solar, Inc. (Nasdaq: FSLR) reported first-quarter net sales of $803 million, an increase of $194 million from the previous quarter, driven by robust U.S. project sales. The net income per share rose to $1.96 from $1.08 in the prior quarter. Cash and cash equivalents remain steady at $1.8 billion. The company maintains its 2021 EPS guidance at $4.05 to $4.75. Operational metrics include a nameplate manufacturing capacity increase to 7.9 GWDC and a year-to-date net booking of 4.8 GWDC.

First Solar, Inc. (NASDAQ: FSLR) will announce its financial results for the first quarter ended March 31, 2021, on April 29, 2021, post-market. The company will host a conference call to discuss these results and its 2021 outlook at 4:30 p.m. ET. Investors can participate via a live webcast on the company's investor relations page. An audio replay will be available until May 13, 2021. First Solar is recognized for its eco-efficient solar modules, focusing on sustainability and advanced photovoltaic technologies.

First Solar has unveiled its next-generation Series 6 CuRe photovoltaic technology, featuring a remarkable 0.2% annual degradation rate, the lowest in the industry, significantly outperforming conventional crystalline silicon products by up to 60%. This technology retains at least 92% of its original performance over a 30-year warranty. Developed through extensive research and over $1.4 billion investment, CuRe promises superior performance in hot and humid conditions and is immune to several forms of degradation affecting traditional panels.

First Solar, Inc. (FSLR) has successfully completed the sale of a utility-scale solar project platform totaling 10 gigawatts (GW) to Leeward Renewable Energy. This transaction includes the transfer of over 50 project development team members to Leeward, which is backed by OMERS Infrastructure. This sale aligns with First Solar's strategy to enhance its renewable energy offerings and operational efficiency, reflecting a strong commitment to sustainable energy solutions.