Profile: First Solar Inc (FSLR.O)
18 Sep 2014
First Solar, Inc., incorporated on May 15, 2003, manufactures and sells photovoltaic (PV) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems. The Company is a thin-film PV solar module manufacturer and a PV solar module manufacturer. It operates its business in two segments: components segment and systems segment. Its components segment involves the design, manufacture, and sale of solar modules, which convert sunlight into electricity. Its systems business involves the sale of its solar modules coupled with the engineering, procurement and construction of the solar PV power plant. In January 2013, the Company acquired Solar Chile. Effective March 11, 2013, the Company acquired an interest in DESERTEC Foundation. In April 2013, Renewable Energy Corp ASA (REC) announced that NorthLight Power, a joint venture 60%-owned by REC and 40% by Summit Power Group, LLC, announced the sale of the 60 MWAC North Star project to First Solar Inc. In August 2013, the Company has acquired a pipeline of the United States and Mexico development assets from Element Power. In September 2013, First Solar, Inc and K Road Power Holdings LLC announced that First Solar acquired from K Road the 250 megawatt (MW)AC photovoltaic Moapa Solar Project in Nevada.
Each solar module is a glass laminate approximately 2 feet x 4 feet (60 centimeters x 120 centimeters) in size that encapsulates a cadmium telluride (CdTe) thin-film semiconductor. The Company’s solar modules had an average rated power of approximately 86 watts for 2012. The Company’s semiconductor structure is a single-junction polycrystalline thin-film that uses cadmium telluride as the absorption layer and cadmium sulfide as the window layer. The Company’s PV solar power systems business includes project development, engineering, procurement, and construction (EPC) services, operating and maintenance (O&M) services, and project finance expertise.
Through its integrated systems business, the Company provides a solar power system solution using its solar modules, which may include project development, EPC services, O&M services, and project finance. OptiSolar Inc. includes a multi-gigawatt project pipeline. NextLight Renewable Power, LLC (NextLight) is a developer of utility-scale solar projects in the southwestern United States. In Europe, the Company is engaged in project development activities with respect to certain projects in Germany and Italy. The Company’s customers consist of investor-owned utilities, independent power developers and producers, commercial and industrial companies, and other system owners who purchase from the Company completed solar power plants, EPC services, and O&M services when required.
First Solar Inc
Suite 600, 350 West Washington S
TEMPE AZ 85281