First Solar, Inc. provides solar energy solutions. The company designs, manufactures, and sells photovoltaic (PV) solar modules with a thin-film semiconductor technology. The company develops, designs, constructs, and sells PV solar power solutions that primarily use the solar modules it manufactures. The company also develops crystalline silicon solar modules with proprietary high-power density, mono-crystalline technology, and provides single-axis mounting systems with proprietary tracking capabilities. Additionally, it provides operations and maintenance (O&M) services to plant owners that use solar modules manufactured by it or by other third-party manufacturers. Business Segments The company operates its business in two segments, Components and Systems. Components Business This segment designs, manufactures, and sells solar modules which convert sunlight into electricity. The company manufactures CdTe modules. Third-party customers of its components segment include project developers, system integrators, and owners and operators of PV solar power systems. Solar Modules: CdTe Modules: Each solar module is a glass laminate approximately 2ft x 4ft (60cm x 120cm) in size that encapsulates a CdTe thin-film semiconductor. The company’s solar modules had an average rated power per module of approximately 91 watts for 2013. During 2013, the company announced the release of its Series 3 Black and Series 3 Black Plus modules. The company’s semiconductor structure is a single-junction polycrystalline thin-film that uses CdTe as the absorption layer. Crystalline Silicon Modules: In 2013, the company acquired TetraSun for its high efficiency crystalline silicon technology for deployment in space constrained applications. Customers: With respect to its components business, during 2013, the company sold the majority of its solar modules (not included in its systems projects) to solar power system project developers, system integrators, and operators headquartered in Germany, France, Portugal, India, and the United States, which either resell its solar modules to end-users or integrate them into solar power plants that they own, operate, or sell. Additionally, the company develops, designs, constructs, and sells PV solar power systems that use the solar modules it manufacture. During 2013, the company’s customers included AES, MidAmerican Renewables, LLC and NextEra Energy. Systems Business This segment provides complete turn-key PV solar power systems, or solar solutions that draw upon its capabilities, which include project development, EPC services, O&M services, and project finance expertise. The company may provide its full EPC services or any combination of individual products and services within its EPC capabilities depending upon the customer and market opportunity. All of its systems segment products and services are generally for PV solar power systems which use its solar modules, and such products and services are sold directly to investor owned utilities, independent power developers and producers, commercial and industrial companies, and other PV solar power system owners. Any other revenues from other services not related to the design, manufacture and sale of solar modules is reflected in this segment. Through its fully integrated systems business, the company provides a turn-key solar power system solution or any combination of its systems solutions, which may include project development, EPC services, O&M services, and project finance. In 2013, the company acquired Solar Chile, a Santiago-based solar development company. Solar Chile has a portfolio of utility-scale PV power projects in varying stages of development totaling approximately 1 GW in northern Chile, including the Atacama Desert region, which offers the highest solar irradiance in the world. In addition, in August 2013, the company acquired a pipeline of U.S. and Mexico development assets from Element Power. Included in the 1.5 GW pipeline are diverse projects in various stages of development in California, Arizona, Texas, Georgia, North Carolina, Colorado, Louisiana, Illinois and Mexico. Project Development: 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 effective site control, and entering into a power purchase agreement with an off-taker of the power to be generated by the project. These activities culminate in receiving the right to construct and operate a solar power system. Customers: With respect to its systems business, the company’s customers consist of investor owned utilities, independent power developers and producers, commercial and industrial companies, and other system owners who may purchase from it completed solar power plants (which include its solar modules), any combination of EPC services, and O&M services for the plants it builds. During 2013, the principal customers of the company’s Systems Segment were NextEra Energy, MidAmerican Renewables, LLC, Exelon Corporation, General Electric Company and Sumitomo Corporation of America. Significant Events In June 2014, First Solar, Inc. announced that it has entered into an agreement to acquire skytron-energy, a subsidiary of AEG Power Solutions, which provides utility-scale photovoltaic (PV) power plant management systems, Operations and Maintenance (O&M) services, data monitoring technology, and equipment to solar power plants throughout Europe. In October 2014, First Solar ceremonially installed the first solar panel for the 141 Megawatt (MW)ac Luz del Norte Solar Power Plant. History First Solar, Inc. was founded in 1999.
first solar inc
(FSLR*:Mexico Stock Exchange)
350 West Washington Street
Tempe, AZ 85281
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