M&A Deal Summary

Leeward Renewable Energy Acquires First Solar - Solar Development Platform

On January 25, 2021, Leeward Renewable Energy acquired renewable energy company First Solar - Solar Development Platform from First Solar

Acquisition Highlights
  • This is Leeward Renewable Energy’s 1st transaction in the Renewable Energy sector.
  • This is Leeward Renewable Energy’s 1st transaction in the United States.
  • This is Leeward Renewable Energy’s 1st transaction in Arizona.

M&A Deal Summary
Date 2021-01-25
Target First Solar - Solar Development Platform
Sector Renewable Energy
Buyer(s) Leeward Renewable Energy
Sellers(s) First Solar
Deal Type Divestiture

Target

First Solar - Solar Development Platform

Tempe, Arizona, United States
First Solar's Solar Development Platform includes 773 megawatts (MW)AC of projects that are expected to commence construction in the next two years, as well as the 30-MWAC Barilla Solar Project, which is operational. The pipeline projects are located in the California, Southwest, and Southeast markets.

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Buyer(S) 1

Buyer

Leeward Renewable Energy

Dallas, Texas, United States
Category Company
Sector Renewable Energy
DESCRIPTION

Leeward Renewable Energy is a wind power asset owner, operator and developer of wind projects in the United States across 19 operating projects with a total installed capacity of 1.7 GW. Leeward Renewable Energy is based in Dallas, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1

Seller(S) 1

SELLER

First Solar

Tempe, Arizona, United States
Category Company
Founded 1999
Sector Renewable Energy
Employees6,700
Revenue 3.3B USD (2023)
DESCRIPTION
Entrance to First Solar's corporate headquarters in Tempe, Arizona.
Entrance to First Solar's corporate headquarters in Tempe, Arizona.

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.

DEAL STATS #
Overall 7 of 9
Sector (Renewable Energy) 7 of 8
Type (Divestiture) 6 of 8
State (Arizona) 4 of 4
Country (United States) 7 of 8
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-06 First Solar - North American Operations & Maintenance Business

Tempe, Arizona, United States

First Solar, Inc. - North American Operations & Maintenance Business provides O&M services for utility-scale plants and offers a full spectrum of services designed to fit a plant owner’s sourcing strategy, infrastructure, and level of expertise in the solar industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-25 PlantPredict

United States

PlantPredict is a sophisticated predictive solar energy modeling tool that was developed by First Solar for utility-scale PV applications. Easy to use, with advanced modeling options, PlantPredict reduces energy delivery uncertainty by generating rigorously field-verified energy predictions.

Sell -
Mergr

Product

Company

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