First Solar - FSLR STOCK NEWS

First Solar (Nasdaq: FSLR) has signed a major agreement to supply 600 megawatts (MW) of photovoltaic (PV) solar modules to Azure Power (NYSE: AZRE), marking the launch of its manufacturing facility in Tamil Nadu, India. The partnership supports Azure's sustainable energy solutions and aims for delivery between 2023 and 2025. First Solar's facility will have an annual capacity of 3.3 GW and is designed for the Indian market, emphasizing its commitment to environmentally friendly technology.

First Solar plans to invest up to $1.2 billion in expanding its solar module production, aiming for over 10 GW_DC capacity by 2025. This includes a new 3.5 GW_DC factory in the US Southeast and a $185 million upgrade to its existing Ohio facility, increasing its total capacity to over 7 GW_DC. The expansion is expected to create at least 850 new jobs directly, supporting 15,000 indirect jobs. Overall, the investment will enhance the company’s role in the clean energy transition and bolster the US economy by an estimated $3.2 billion.

First Solar reported net sales of $621 million for Q2 2022, a rise of $254 million from the prior quarter, driven by increased module sales. The company generated an operating income of $145 million, compared to a loss of $58 million in Q1. Earnings per diluted share improved to $0.52, recovering from a loss of $0.41. Cash and marketable securities reached $1.9 billion. However, the company's guidance has been revised downwards due to an impairment related to legacy systems and Japanese Yen devaluation, with expected net sales now ranging from $2.55 billion to $2.8 billion.

First Solar (Nasdaq: FSLR) announced a significant agreement to supply 2.4 gigawatts (GW) of advanced thin film solar modules to Intersect Power. This deal positions Intersect Power to become one of the largest operators of First Solar technology by 2027. The modules will be delivered from 2024 to 2026 for various solar and green hydrogen projects across the U.S. Additionally, First Solar is investing $680 million to expand its manufacturing capacity in Ohio, enhancing its footprint to 6 GW annually, further supporting American jobs.

First Solar has secured a multi-year agreement with Akuo for the delivery of 500 MW_DC of thin film photovoltaic modules from 2024 to 2026. This deal includes 200 MW_DC for a US utility-scale project, with further deliveries planned for Europe. First Solar's modules are recognized for their quality and environmental performance, while the company is investing $680 million to boost US manufacturing capacity by 3.3 GW annually. This move is part of a broader strategy to reduce supply chain risks and enhance renewable energy production.

First Solar (FSLR) will supply 93 MW of thin-film photovoltaic solar panels to Solarvest Holdings Berhad for four projects under Malaysia's Large Scale Solar Program. Deliveries are set for August to November 2022, with around 75 MW sourced from First Solar's Kulim facility. The deal emphasizes Solarvest's strategy to diversify procurement amidst global supply chain uncertainties. First Solar's modules, developed in California and Ohio, set industry benchmarks in performance and environmental impact. The company, active in Malaysia since 2007, plans to expand its manufacturing capacity significantly by 2024.

First Solar, Inc. (NASDAQ: FSLR) will announce its second quarter financial results for the period ending June 30, 2022, on July 28, 2022, after market close. The company will host a conference call at 4:30 p.m. ET to discuss these results and provide insights into its 2022 outlook. Investors can access a live webcast on the company’s investor website. An audio replay will be available until August 27, 2022. First Solar specializes in eco-efficient solar modules aimed at combating climate change through sustainable practices.

First Solar, Inc. (Nasdaq: FSLR) has finalized the sale of a 293-megawatt (MW) DC solar project development platform in Japan to PAG Real Assets. As part of this deal, many First Solar employees in Japan will transition to PAG. Additionally, First Solar has an agreement for PAG to acquire its O&M platform managing approximately 665 MW DC in Japan, expected to close in H2 2022, pending regulatory approvals and customary conditions. First Solar reinforces its commitment to sustainability through advanced thin-film solar technology.