First Solar

Infobox_Company
company_name = First Solar
company_
company_type = Public (nasdaq|FSLR)
company_slogan =
foundation = 1999 (as First Solar Holdings, LLC)
location_city = Phoenix, Arizona
location_country = USA
key_people = Michael J. Ahearn, CEO
revenue = profit $638 million USD (2007)
net_income = $105 million USD (2007)
num_employees = profit 723 (2007)
homepage = [http://www.firstsolar.com/ www.firstsolar.com]

First Solar, Inc. is a publicly-held U.S. energy company in the solar sector. It manufactures photovoltaic solar modules using a thin film semiconductor process based on CdTe, to produce solar thin-film cells. This process uses different materials than most other solar cells, is more economical, tolerant of a wide range of conditions, but less efficient at converting light to electricity. [http://news.cnet.com/8301-11128_3-9812081-54.html]

The company sells its products to solar project developers and system integrators primarily in Germany because of strong incentives for solar enacted in the German Renewable Energy Sources Act (EEG) of 2000 (cp. Solar power in Germany).

The company currently has 7 production lines with 308 megawatts of manufacturing capacity in its original Perrysburg, Ohio plant and in its Frankfurt (Oder) Germany plant. Research and development takes place at the Ohio facility, and headquarters are in Tempe, Arizona.

In April 2007, First Solar announced the construction of an additional manufacturing plant in Kulim Hi-Tech Park, Malaysia with an annual production nameplate rating of 176 megawatts, representing an investment of approximately $150 million. The additional production capacity of the new plant is scheduled to come on line at the end of 2008. [ [http://www.renewableenergyaccess.com/rea/partner/story?id=48219&src=rss First Solar Announces Groundbreaking of Malaysian Plant] ] As of the first quarter of 2008, 3 additional plants were begun at the Kulim site, each with 4 production lines. By the end of 2009 when all come on line, First Solar will have 23 production lines and a capacity of approximately 1012 megawatts per year (reference?). The manufacturing cost per watt reached $1.23 in 2007. First Solar is contractually bound to reduce price per watt by 6.5% per year and plans to be competitive on an unsubsidized basis with retail electricity by 2010. [http://www.sec.gov/Archives/edgar/data/1274494/000095015308000367/p75017e10vk.htm#111 First Solar Inc. SEC Form 10-K for the Fiscal Year Ended December 29, 2007, page 5 ] ]

First Solar has long-term contracts totaling 3.2 gigawatts over 5 years representing a total of approximately €4.5 billion in sales. Among the 12 European project developers and system integrators, customers include Blitzstrom GmbH, Colexon Energy AG (previously Reinecke + Pohl), Conergy AG, Gehrlicher Umweltschonende Energiesysteme GmbH, Juwi Solar GmbH and Phoenix Solar AG. In 2007, each of these six accounted for between 10% and 23% of sales. In 2007, new contracts were negotiated with EDF/Energies Nouvelles, Sechilienne-Sidec, Rio Energie, and Sun Edison. First Solar also expanded an existing contract with Juwi. [cite web
title=PRIME NEWSWIRE article
work=First Solar Announces Expansion
url=http://investor.firstsolar.com/releasedetail.cfm?ReleaseID=252638
accessdate=2007-07-26]

First Solar was founded by Harold McMaster. [ [http://www.marketwatch.com/news/story/ipo-report-first-solar-ipo/story.aspx?guid=%7BDD94C704-8308-4941-91EE-AB1C112D5E77%7D First Solar rallies 24% in debut] ]

ee also

*BP Solar
*Cadmium telluride
*Cadmium telluride photovoltaics
*Renewable energy companies on the stock exchange
*Nanosolar
*Photovoltaic power stations
*Solar power in Germany

References

External links

* [http://www.firstsolar.com/ First Solar]
* [http://www.bloomberg.com/apps/news?pid=20601103&sid=awxNY5l3mcgU&refer=us First Solar Profit Soars on Rising Solar-Panel Sales]
* [http://www.reffwallstreet.com First Solar CEO to Speak at Renewable Energy Finance Forum-Wall Street]
* [http://www.greentechmedia.com/articles/first-solar-scores-sce-panel-bid-1134.html First Solar Scores SCE Panel Bid]