NASDAQ:FSLR

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First Solar Sells $311.9 Million in 2025 Tax Credits to Financial Institution

TEMPE, Ariz. – June 20, 2025 – First Solar, Inc. (NASDAQ: FSLR) has entered into a Tax Credit Transfer Agreement with a leading financial institution, finalizing the sale of $311.86 million worth of advanced manufacturing production tax credits (AMPTCs) generated in early 2025 under Section 45X of the U.S. Internal Revenue Code.

Key Details:
Transaction Value: $311,858,186.10 in eligible 45X tax credits

Sale Price: $296,265,276.80 paid in a single upfront installment

Buyer: A major unnamed financial institution

Credits Origin: Derived from First Solar’s U.S.-produced module components sold to third parties

Closing Conditions: Standard representations, warranties, and absence of default

Provisions: The agreement includes standard covenants, indemnities, and termination rights
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Author
ME NEWS 06-25-25
1. Board Member Departure
Molly E. Joseph has notified First Solar, Inc. that she will not stand for re-election to the Board of Directors at the company’s 2025 Annual Meeting of Stockholders.
She will continue serving on the Board and its committees until the 2025 Annual Meeting.
2. Reason for Departure
No disagreements with the company or its management were cited as the reason for her departure.
The Board and management expressed appreciation for her service since 2017 and wished her well.
This announcement indicates an orderly transition in board leadership with no underlying conflicts or disputes.
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Author
ME NEWS 03-17-25
First Solar, Inc. announced its fourth-quarter and full-year 2024 financial results, reporting net sales of $4.2 billion for 2024 and $1.5 billion for Q4. The company achieved a net income per diluted share of $12.02 for the full year and $3.65 for the quarter. It ended 2024 with a net cash balance of $1.2 billion, driven by strong module sales and proceeds from the sale of Section 45X tax credits.

For 2025, First Solar provided guidance, forecasting net sales between $5.3 billion and $5.8 billion and earnings per diluted share between $17.00 and $20.00. The company expects to end 2025 with a net cash balance between $0.7 billion and $1.2 billion, with capital expenditures projected at $1.3 billion to $1.5 billion.

CEO Mark Widmar highlighted continued expansion, including the commissioning of the Alabama facility, ongoing construction in Louisiana, and the opening of an R&D center in Ohio. The company’s bookings for 2024 totaled 4.4 GW at an average selling price of 30.5 cents per watt.
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Author
European Investor 02-26-25
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