First Solar Mergers and Acquisitions Summary

Renewable Energy Company

First Solar has acquired 8 companies. A total of 1 acquisition came from private equity firms. It has also divested 4 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 AG for $1.7B. First Solar has acquired in 2 different US states, and 2 countries. The Company’s most targeted sectors include energy services and equipment (50%) and electrical equipment (25%).

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M&A Summary

  • M&A Total Activity12
    • M&A Buy Activity8
    • M&A Sell Activity4
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 9
  • M&A Advisors 2

First Solar, Inc.

350 West Washington Street, Suite 600,
Tempe, Arizona 85281
United States,
(602) 414-9300
www.firstsolar.com

First Solar, Inc. is a global provider of solar energy solutions, focused on providing power solutions across various market segments. First Solar 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 formed in 1999 and is based in Tempe, Arizona.


M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 8 - - - - - 8
vol $319M $319M
Sell (0.8/yr) # - - 2 2 - - 4
vol $1.7B $1.7B
  12

Most Recent M&A

Company Date Value Type
First Solar, Inc. - GA Solar 4 Project 2018-10-24 - Divestiture
Tempe, Arizona
8point3 Energy Partners LP 2018-02-05 1.7B USD Going Private
San Jose, California · www.8point3energypartners.com
First Solar, Inc. - 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
8point3 Energy Partners LP 2015-01-01 - Joint Venture
San Jose, California · www.8point3energypartners.com
50 MW PV project 2013-08-06 - Divestiture
, United States
North Star Solar Project 60 MWAC 2013-04-10 - Add-on Acquisition
, United States
TetraSun 2013-04-09 - Divestiture
San Jose, California · www.tetrasun.com
SolarChile S.A 2013-01-09 - Divestiture
Santiago, Chile · www.solar-chile.com
RayTracker, Inc. 2011-01-07 - Divestiture
Pasadena, California · www.raytracker.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Renewable Energy 2 (25%) 285M (89%) 4 (100%) 1.7B (100%)
Energy Services and Equipment 4 (50%) 34M (11%) - -
Electrical Equipment 2 (25%) - - -
Total 8 $319M 4 $1.7B

By Geo

State/Country Buy Value Sell Value
United States 7 319M 4 1.7B
  California 4 285M 2 1.7B
  Nevada - - 1 -
  Arizona - - 1 -
Chile 1 - - -
Domestic 7 (88%) 319M (100%) 4 (100%) 1.7B (100%)
Cross-border 1 (13%) - - -
Total 8 $319M 4 $1.7B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom LLP
1

Deal Values

buy # Total
$100M to $1B 1 $285M
< $100M 1 $34M
TOTAL $319M
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
PE Firm(s)
17%
1 17%
Strategic(s)
83%
5 83%
Divested to
PE Firm(s)
75%
3 75%
Strategic(s)
25%
1 25%

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