First Solar - M&A Summary and Business Overview

Renewable EnergyCompany

First Solar M&A Summary

First Solar has acquired 9 companies, including 1 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 9 assets.

First Solar’s largest acquisition to date was in 2010, when it acquired NextLight Renewable Power for $285M. It’s largest disclosed sale occurred in 2018, when it sold 8point3 Energy Partners to Capital Dynamics for $1.7B. First Solar has acquired in 2 different US states, and 3 countries. The Company’s most targeted sectors include energy services and equipment (45%) and renewable energy (34%).

First Solar Business Overview

Where is First Solar headquartered?

First Solar is headquartered in Tempe, Arizona.

What is First Solar’s revenue?

First Solar disclosed revenue of 3,319M USD for 2023 and 2,619M USD for 2022.

How many employees does First Solar have?

First Solar has 6,700 employees.

What sector is First Solar in?

First Solar is a renewable energy company.

When was First Solar founded?

First Solar was founded in 1999.

M&A Summary

  • M&A Total Activity18
    • M&A Buy Activity9
    • M&A Sell Activity9
  • Total Sectors Invested 3
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 11
  • M&A Advisors 2

First Solar

First Solar, Inc.

350 West Washington Street, Suite 600,
Tempe, Arizona 85288
United States,
(602) 414-9300
www.firstsolar.com

First Solar is a global provider of solar energy solutions, focused on providing power solutions across various market segments. The Company designs, manufactures and sells photovoltaic solar modules with an advanced thin-film semiconductor technology and the Company develops, designs, constructs and sells PV solar power solutions that primarily use the solar modules it manufactures. Additionally, First Solar provides operations and maintenance services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. First Solar was incorporated in 1999 and is based in Tempe, Arizona.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 8 - - - 1 - 9
vol $319M $38M $357M
Sell (1.0/yr) # 4 2 2 1 - - 9
vol $1.7B $1.7B
  18

Most Recent M&A

Company Date Value Type
Evolar AB 2023-05-12 38M USD Add-on Acquisition
Uppsala, Sweden · www.evolarab.se
First Solar - Australian O&M Business 2022-10-04 - Divestiture
, Australia
PlantPredict 2021-08-25 - Divestiture
, United States · www.plantpredict.com
First Solar, Inc. - Solar Development Platform 2021-01-25 - Divestiture
Tempe, Arizona
First Solar, Inc. - North American Operations & Maintenance Business 2020-08-06 - Divestiture
Tempe, Arizona
First Solar, Inc. - Four California Projects 2020-03-02 - Divestiture
Tempe, Arizona
First Solar, Inc. - GA Solar 4 Project 2018-10-24 - Divestiture
Tempe, Arizona
8point3 Energy Partners LP 2018-02-05 1.7B USD Stake Sale
San Jose, California · www.8point3energypartners.com
First Solar - California Flats Solar Project 2017-08-22 - Divestiture
Monterey County, California
First Solar - Moapa Southern Paiute Solar Project 2017-03-30 - Divestiture
Clark County, Nevada
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Renewable Energy 3 (33%) 323M (90%) 8 (89%) 1.7B (100%)
Energy Services and Equipment 4 (44%) 34M (10%) - -
Electrical Equipment 2 (22%) - - -
Software - - 1 (11%) -
Total 9 $357M 9 $1.7B

By Geo

State/Country Buy Value Sell Value
United States 7 319M 8 1.7B
  California 4 285M 2 1.7B
  Arizona - - 4 -
  Nevada - - 1 -
Australia - - 1 -
Chile 1 - - -
Sweden 1 38M - -
Domestic 7 (78%) 319M (89%) 8 (89%) 1.7B (100%)
Cross-border 2 (22%) 38M (11%) 1 (11%) -
Total 9 $357M 9 $1.7B

Top M&A Advisors

Financial Deals
BofA Securities
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
1

Deal Values

buy # Total
$100M to $1B 1 $285M
< $100M 2 $72M
TOTAL $357M
Largest NextLight Renewable Power LLC
$285M (2010-07-13)
sell # Total
> $1B 1 $1.7B
TOTAL $1.7B
Largest 8point3 Energy Partners LP
$1.7B (2018-02-05)

M&A Connections

Deals
Acquired from
Investor(s)
11%
1 (11%)
Strategic(s)
56%
5 (56%)
Divested to
Investor(s)
33%
3 (33%)
Strategic(s)
67%
6 (67%)

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