Profile: First Solar Inc (FSLR.O)

FSLR.O on Nasdaq

5 Feb 2016
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First Solar, Inc., incorporated on May 15, 2003, is a global provider of solar energy solutions. The Company designs, manufactures and sells photovoltaic (PV) solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Company’s components segment designs, manufactures and sales of solar modules, which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems which primarily use the Company’s solar modules. The Company also manufactures crystalline silicon solar modules with high-power density, mono-crystalline technology, and provides single-axis mounting systems with tracking capabilities.

The Company provides operations and maintenance (O&M) services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. As of December 31, 2014, the Company had 30 manufacturing lines around the world and 2.7 gigawatts (GW) of annual manufacturing capacity with lines having a production capability of approximately 2,500 modules per day and totaling approximately 70,000 modules each day across 30 lines. The Company’s markets are spread throughout the Americas, Asia, Australia, the Middle East and Africa. The Company’s offerings include Utility-Scale Power Plants, which are grid-connected bulk power systems for utility-scale generation; AC Power Block, a pre-engineered system solution consisting of First Solar modules, mounting solutions, third-party inverters, a power block warranty and certain related services and is available in modular units ranging from 800 kilowatts to 3.8 megawatts (MW); Fuel Displacement, which are hybrid power plant solutions in the development stage; Commercial and Industrial (C&I)-Distributed Generation, which are system solutions, both ground-mounted and roof-top being developed for commercial and industrial applications; Off-Grid and Energy Access, which is being developed for addressing underserved energy markets; Community Solar, which are small ground-mounted installations for the residential and small business sectors, and Advanced PV Modules.


The Company’s components business segment is engaged in the design, manufacture and sale of solar modules. The Company offers cadmium telluride (CdTe) modules and crystalline silicon modules. The Company’s CdTe modules are manufactured using its CdTe thin-film technology in the Company’s Perrysburg, Ohio, and Kulim, Malaysia manufacturing facilities. The Company manufactures crystalline silicon modules incorporating crystalline silicon technology for deployment in space constrained applications. The Company manufactures crystalline silicon cells in its wafer fab facility in Kulim, Malaysia. The Company also offers module collection and recycling programs. The Company sells its solar modules to solar power system project developers, system integrators and operators headquartered primarily in Germany, India and the United States, which either resell the solar modules to end-users or integrate them into solar power plants that the customers own, operate or sell.


The Company’s systems business segment provides turn-key solar power system solutions or any combination of its systems solutions, which may include project development, engineering, procurement and construction (EPC) services, O&M services, and project finance. The Company’s systems segment products and services are for PV solar power systems which primarily use its solar modules, which are sold directly to investor-owned utilities, independent power developers and producers, commercial and industrial companies, and other PV solar power system owners. The Company’s project development activities include site selection and securing rights to acquire or use the site, obtaining in a timely manner the requisite interconnection and transmission studies, executing an interconnection agreement, obtaining environmental and land use permits, maintaining site control, and entering into a power purchase agreement (PPA) with an off-taker of the power to be generated by the project. The Company provides EPC services to projects developed by it to projects developed by independent solar power project developers, and directly to system owners, such as utilities. The Company’s EPC products and services include engineering design and related services, balance of system (BoS) procurement, development of grid integration solutions, and construction contracting and management. The Company provides O&M services with multiple PV solar power systems in operation, including North American Electric Reliability Corporation (NERC) compliance, energy forecasting, around the clock monitoring and control, PPA and Large Generator Interconnection Agreement compliance, performance engineering analysis, turn-key maintenance services, including spare parts and breakdown repair, and environmental services. The Company’s Project Finance group is primarily responsible for negotiating and executing the financing, structuring and sale of PV solar power systems incorporating its modules. The First Solar Tracker and Other Balance of System (BoS) group sells certain components of the solar system, including single-axis trackers, which are manufactured by a third-party using the Company’s technology, and also offers a range of mounting solutions. The Company’s Asset Management group is a team of energy professionals, who are utilized to implement opportunistic strategies to secure power sales contracts, and hedge market exposure. The Company also temporarily owns and operates certain PV solar power systems.

Company Address

First Solar Inc

350 W Washington St Ste 600
TEMPE   AZ   85281-1496
P: +1602.4149300
F: +1602.4149400

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