First Solar, Inc.

First Solar, Inc.

First Solar, Inc.

Overview
Date Founded

2003

Headquarters

350 West Washington Street, Suite 600, Tempe, AZ, 85281, USA

Type of Company

Public

Employees (Worldwide)

6,400

Industries

Semiconductors
Alternative Energy
Industrial Machinery & Manufacturing
Electrical Products

Company Description

Founded in 1999, First Solar has become the world’s premier provider of fully integrated solar solutions, creating value-driven renewable energy projects that represent the leading edge of utility-scale solar technology and innovation. Having constructed and commissioned many of the world’s largest, state-of-the-art photovoltaic (PV) power plants in operation today, First Solar has established a portfolio of customers that include some of the world’s most sophisticated energy buyers. Our full service approach ensures the successful delivery of clean, affordable solar power—and spans the entire value chain, including module manufacturing; project development; engineering, procurement, and construction (EPC); financing; and operations and maintenance (O&M).

Contact Data
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Executives & Employees

Chief Executive Officer

Chief Financial Officer

Chief Operations Officer

Chief Operating Officer

Secretary, Executive Vice President & General Counsel

Chief Technology Officer

Chief Commercial Officer

Global Controller & Chief Accounting Officer

President-International Business

Chief Audit Executive

Board of Directors

Founder at True North Venture Partners GP LLC

Former Regional Managing Partner at Deloitte LLP

Chairman at Star Tribune Media Co. LLC

Former Chief Executive Officer at Arizona Public Service Company

Chief Financial Officer at Walton Enterprises, Inc.

Chief Executive Officer at First Solar, Inc.

Former Chairman & Chief Executive Officer at World Fuel Services Corp.

Executive Vice President-Global at UnitedHealth Group, Inc.

Former Chief Operating Officer at First Solar, Inc.

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First Solar, Inc.
Owners & Shareholders
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Lansdowne utilizes a variety of methods and strategies to make investment decisions and recommendations. Their investment philosophy generally aims to deliver good annual returns through a rigorous process of fundamental research. The firm manages funds and accounts including fundamental long/short equity funds and traditional equity funds which do not use leverage. The firm currently has strategies namely: developed markets equity; European equity; and global sector equity. For each strategy, Lansdowne identifies investment opportunities through extensive meetings with company managements and their own independent research and analysis. The investment approach is expected to result in relatively concentrated portfolios of positions, but with a focus on maximizing returns relative to risk. The strategies employ the following techniques: short selling; leverage; and derivatives.

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BNPP AM USA manages both long-only and long-short fixed income portfolios, multi-currency portfolios and equity portfolios. The firm's investment approach centers on taking a series of diversified, often uncorrelated positions that balance currency and interest-rate risks around specified performance benchmarks. Global fixed-income portfolios are constructed using sovereign debt and currencies and, guidelines permitting, corporate bonds, structured securities, and emerging market investments. BNPP AM USA may use futures and various other derivatives (such as interest rate swaps, credit default swaps and currency forwards) in the management of fixed-income portfolios, as appropriate. These instruments are used to take or hedge existing positions and as a substitute for the cash market when the synthetic alternatives are deemed more efficient. Fixed Income CIO has oversight responsibility for all activities relating to the management and performance of BNPP AM USA's fixed income investment teams, products and portfolios. The firm's other strategies include Equity, Liquidity Solutions, Multi-Asset Solutions, and Smart beta and Quant.

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PCP is a resolutely active manager with a bottom-up market approach which focuses exclusively on emerging market investments.The firm has a sector-specific investment approach where they define the common ground in emerging markets as the industrial sector and continuously screen the entire emerging market universe. ^This approach is based on replacement cost, which PCP calculates in a common currency unit (USD) for each company using their proprietary database. This allows PCP to rank all companies by sector and market value and then to identify those trading above or under their sector median. PCP selects the most mispriced quoted assets to generate value-based investments.

Recent Transactions
Details Hidden

Colbún SA purchases First Solar, Inc. /Sol de Tarapacá 150mw Pv Project from First Solar, Inc.

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IDFC Private Equity Co. Ltd., Vector Green Energy Pvt. Ltd. purchase First Solar Power India Pvt Ltd. /Seven Solar Projects from First Solar, Inc.

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Capital Dynamics AG purchases First Solar, Inc. /Moapa Southern Paiute Solar Project from First Solar, Inc.

Insider Transactions
Details Hidden
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Transaction Advisors
Underwriter

Advised onFirst Solar, Inc. issued Common Stock

Underwriter

Advised onFirst Solar, Inc. issued Common Stock

Auditor

Advised onFirst Solar, Inc. issued Common Stock

Legal Advisor

Advised onFirst Solar, Inc. purchases Optisolar, Inc. from Kensington , Richardson Capital Ltd.

Legal Advisor

Advised onFirst Solar, Inc. purchases Solar Chile SA

Associate

Advised onFirst Solar, Inc. issued Common Stock

Advisors & Consultants
Legal Advisor

Partner at Gibson, Dunn & Crutcher LLP

Legal Advisor

Partner at Cravath, Swaine & Moore LLP

Legal Advisor

Partner at Skadden, Arps, Slate, Meagher & Flom LLP

Clients

Facebook, Inc. engages in the development of social media applications for people to connect through mobile devices, personal computers, and other surfaces. It enables users to share opinions, ideas, photos, videos, and other activities online. Its products include Facebook, Instagram, Messenger, WhatsApp, and Oculus. The company was founded by Mark Elliot Zuckerberg, Dustin Moskovitz, Chris R. Hughes, Andrew McCollum, and Eduardo P. Saverin on February 4, 2004 and is headquartered in Menlo Park, CA.

PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. The firm specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in San Francisco, CA.

Berkshire Hathaway, Inc. is engaged in the provision of property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, General Re, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC, Berkshire Hathaway Energy, McLane Company, Manufacturing, Service and Retailing, and Finance and Financial products. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The General Re offers underwriting excess-of-loss, quota-share, and facultative reinsurance. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share reinsurance for insurers and reinsurers. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and domestic real estate brokerage and brokerage franchisor. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment involves providing fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and retailing. The Finance and Financial Products segment includes manufactured housing and consumer financing; transportation equipment, manufacturing and leasing; and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Key Stats and Financials As of 2018
Market Capitalization
$5.68B
Total Enterprise Value
$2.4B
Earnings Per Share
$1.36
Revenue
$2.25B
Net Profit
$144M
EBITDA
$267M
EBITDAMargin
11.89%
Total Debt
$467M
Total Equity
$5.21B
Enterprise Value Sales
1.07x
Enterprise Value EBITDAOperating
9x
TEVNet Income
16.65x
Debt TEV
0.19x
Three Year Compounded Annual Growth Rate Of Revenue
-14.37%
Five Year Compounded Annual Growth Rate Of Revenue
-7.36%
Political Donations
$500
2014
$1,000
2011
$1,000
2011
Investments
Details Hidden

Powerhive, Inc. develops and operates renewable microgrid electricity. It offers key tools and services for implementing profitable rural electrification projects in energy access markets around the globe. The firm also offers technology platform that is ideal for energy providers and developers of any size, and can be integrated with new projects or as a retrofit for existing microgrids. The company was founded by Christopher Hornor and Rik Wuts in 2011 and is headquartered in Berkeley, CA.

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Clean Energy Collective LLC engages in the development of community solar solutions. It offers roofless solar, software, and onboarding services. The company was founded by Paul Spencer in 2009 and is headquartered in Louisville, CO.

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Tesla Energy Operations, Inc. engages in the business of renewable energy services such as, solar energy products and services. It offers installation, ongoing monitoring and repair services of solar energy systems in the U.S. and also provides services to homeowners, businesses, schools, non-profits and government organizations. The company was founded by Lyndon R. Rive and Peter J. Rive on June 21, 2006 and is headquartered in Fremont, CA.

Investors
Details Hidden

Emeritus Member, Board of Directors at Children's Scholarship Fund, Inc.

Suppliers
Spire Corp. Biotechnology | Bedford, Massachusetts

Spire Corp. is a pv module testing company, which provides turnkey solar simulation solutions for PV module factories as well as calibration and certification laboratories. The company was founded by Roger G. Little in 1969 and is headquartered in Billerica, MA.

Littelfuse, Inc. Internet Software & Services | Chicago, Illinois

Littelfuse, Inc. engages in supplying of circuit protection products for the electronics, automotive and electrical industries. The company offers electromechanical and electronic switch and control devices for commercial and specialty vehicles and sensors for automobile safety systems. It operates through the following segments: Electronics, Automotive, and Electrical. The Electronics segment includes the broadest and deepest portfolio of overvoltage and overcurrent solutions. The Automotive segment maintains a direct sales force to service all the major automotive OEMs and system suppliers domestically. The Electrical segment markets and sells its power fuses and protection relays through the manufacturer's representatives across North America. The company was founded by Edward V. Sundt in 1927 and is headquartered in Chicago, IL.

STR Holdings, Inc. Alternative Energy | Enfield, CT

STR was founded in 1944 when two of the world's most prominent polymer scientists, John DeBell and Henry Richardson, started the first dedicated plastics research and development firm in the United States. The company rapidly gained a reputation for innovation of engineered compounds and technical service for the growing plastics industry. Over the years, STR has expanded and evolved into two core businesses - Solar Encapsulants Manufacturing and Quality Assurance Services. STR's Solar Encapsulants Manufacturing business is one of the world's leading providers of high quality, superior performance solar encapsulants - marketed under the trade name PhotoCap® since 1979 - for the photovoltaic module industry. With over 80 customers around the world, including many of the top names in the solar module business, STR has developed many of the major innovations in the industry

Competitors
Canadian Solar, Inc. Semiconductors - Guelph, ON

Canadian Solar, Inc. engages in the manufacture of solar photovoltaic modules and a provider of solar energy solutions. It operates through the Module and System Solutions (MSS), and Energy segments. The MSS segment involves in the design, development, manufacture, and sales of solar power products and solar system kits, and operation and maintenance services. The Energy segment comprises primarily of the development and sale of solar projects, operating solar power projects and the sale of electricity. The company was founded by Shawn Qu in October 2001 and is headquartered in Guelph, Canada.

Yingli Green Energy Holding Co. Ltd. Electrical Products - Baoding, HE

Yingli Green Energy Holding Co. Ltd. engages in the manufacture and sale of photovoltaic module. Its products and services include polysilicon ingots and wafers, photovoltaic cells, photovoltaic modules and photovoltaic systems, and the development and operation of solar projects. It markets its products under the brand Yingli Solar. The company was founded by Lian Sheng Miao in August 1998 and is headquartered in Baoding, China.

Jinkosolar Holding Co., Ltd. Semiconductors - Shangrao, JX

JinkoSolar Holding Co., Ltd. engages in the design, development, production and marketing of photovoltaic products, and solar system integration services. It focuses on vertically integrated solar power products manufacturing business from silicon ingots, wafers, and cells to solar modules. The company was founded by Xiande Li, Kangping Chen, and Xianhua Li on August 3, 2007 and is headquartered in Shangrao, China.

Awards & Honors
Rank #633
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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