First Solar, Inc.
350 West Washington Street
Tempe, AZ 85281
602 414 9300
Ticker Symbol: (NASDAQ: FSLR)
Industry Sector: Technology - Solar
Full Time Employees: 5,100
First Solar, Inc. 2021 Fortune 500 Rank: #798
The First Solar Org Chart Report covers key business units including databahn goes further into the lines of business by charting HR, Finance, IT, Operations and more.
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The First Solar Contact Spreadsheet is a directory of names, titles, phone numbers, and addresses.
|NAME||TITLE||MAIN PHONE||DIRECT PHONE|
|Alexander Bradley||Chief Financial Officerfirstname.lastname@example.org||(602) 414-9300 (HQ)||disguised|
|Markus Gloeckler||Chief Technology Officeremail@example.com||(602) 414-9300 (HQ)||
|Nicholas Strevel||VP - Product Developmentfirstname.lastname@example.org||(602) 414-9300 (HQ)||
|Andrew Martin||VP - Human Resourcesemail@example.com||(602) 414-9300 (HQ)||
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First Solar Executive Leadership Team
|Mark Widmar||Chief Executive Officer|
|Alex Bradley||Chief Financial Officer|
|Georges Antoun||Chief Commercial Officer|
|Michael Koralewski||Chief Manufacturing Operations Officer|
|Kuntal Kumar Verma||Chief Manufacturing Engineering Officer|
|Pat Buehler||Chief Quality and Reliability Officer|
|Markus Gloeckler||Chief Technology Officer|
|Caroline Stockdale||Chief People and Communications Officer|
|Jason Dymbort||General Counsel and Secretary|
Download the First Solar Deep-Dive Report to gain access to profiles of the key decision-makers at First Solar.
First Solar Board of Directors
|Michael J. Ahearn||Chairman of the Board||First Solar, Inc.|
|Mark Widmar||Chief Executive Officer||First Solar, Inc.|
|George A. Hambro||Former Chief Operating Officer||First Solar, Inc.|
|Sharon L. Allen||Former U.S. Chairwoman||Deloitte LLP|
|Kathryn A. Hollister||Chief Strategy Officer||Deloitte LLP|
|Richard D. Chapman||Former Chief Financial Officer||Walton Enterprises, Inc.|
|Anita Marangoly George||Strategic Advisor||CDPQ Global|
|Molly Joseph||CEO - UNH Global &bEVP, Global, UnitedHealth Group||UnitedHealthcare Global|
|Craig Kennedy||Former President||German Marshall Fund|
|William J. Post||Retired Chairman and CEO||Pinnacle West Capital Corporation|
|Paul H. Stebbins||Chairman Emeritus and Eon-Employee Director||World Fuel Services Corporation|
|Michael T. Sweeney||Former CEO||Steinway Musical Instruments, Inc|
First Solar Sales Trigger Events
First Solar Plans to Put $680 Million PV Plant In Ohio
October 5, 2021
Mark Widmar CEO of First Solar states, “This facility will represent a significant leap forward in photovoltaics manufacturing, a true factory of the future. It will leverage our advantaged position at the intersection of efficiency, energy yield, optimized form factor, and cost competitiveness, while leading our manufacturing fleet in delivering the highest efficiency and wattage, and the lowest cost per watt."
First Solar, Inc. Announces it will Expand Global Footprint In India with a New GW Facility
July 29, 2021
The planned facility is planned to have 3.3 gigawatts (GW)DC. First Solar anticipates that its nameplate manufacturing capacity will double to 16 GWDC in 2024.
“India is an attractive market for First Solar, and not simply because our module technology is advantaged in its hot, humid climate. It is an inherently sustainable market, underpinned by a growing economy and appetite for energy, with a well-defined goal that will need over 25 GW of solar to be deployed every year for the next nine years,” said Mark Widmar, chief executive officer, First Solar.
First Solar, Inc. Completes Sale of North American O&M Business to NovaSource
March 31, 2021
The company announced the completion of the announced sale of North American Operations and Maintenance (O&M) business to NovaSource Power Services today.
Closing of the transaction, approximately 270 First Solar O&M associates joined NovaSource. The acquisition makes NovaSource the largest O&M provider globally.
First Solar Sells its Development Platform to Leeward
January 25, 2021
The company has entered into a Purchase and Sale Agreement with Leeward Renewable Energy Development, LLC. The transaction is expected to close in the first quarter of 2021.
“The sale of the platform is a result of the strategic review we announced in 2020 and we’re pleased that it will be acquired by Leeward, a company that shares our values and vision for a sustainable energy future,” said Mark Widmar, chief executive officer, First Solar. “Enabled by our Series 6 module’s seamless compatibility with industry systems and processes, the sale is part of a transition that allows us to focus on doing what we do best, which is scaling, developing, and selling our world-class module technology.”
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First Solar Earnings Call Highlights
First Solar, Inc, (NASDAQ: FSLR) Q2 2021 Earnings Call
July 29, 2021
Executives in Attendance:
- Mitchell Ennis - Manager, IR
- Mark Widmar - CEO & Director
- Alexander Bradley - CFO
- Philip Shen - ROTH Capital Partners
- Benjamin Kallo - Robert W. Baird & Co.
- Brian Lee - Goldman Sachs Group
Comments from Mark Widmar, CEO:
"I'm pleased to announce that contingent upon permitting and approval of government incentives that are satisfactory to First Solar, we are intending to invest approximately $680 million to add 3.3 gigawatts of manufacturing capacity in India."
"These next-generation factories represent a significant leap forward in our technology road map and will produce our most competitively advantaged modules with an expected lower cost per watt and environmental footprint compared to our existing fleet."
"From a technology standpoint, our production lines are manufacturing record modules. To illustrate this point, samples produced during our regular production process were submitted for external verification and confirmed by the National Renewable Energy Laboratory at a world record 19.2% glass area efficiency for a CdTe module."
"Additionally, our advanced research team has been creating new optionality in our R&D road map. For example, we recently deployed prototypes of early-stage bifacial modules at a test facility and are pleased with the initial results."
"As it relates to our CuRe program, the factory updates and tool implementations at our Vietnam site requires international travel from both third-party equipment installers as well as our U.S.-based associates. But we continue to work with relevant agencies in Vietnam who support this essential travel in a safe manner."
First Solar Financial Highlights
|Fiscal Year Ends||December 31, 2021|
|Most Recent Quarter||July 29, 2021|
|Return on Assets||4.46%|
|Return on Equity||10.22%|
|Revenue Per Share||27.99|
|Quarterly Revenue Growth||-2.10%|
|Net Income Avi to Common||562.86M|
|Quarterly Earnings Growth||123.40%|
|Total Cash Per Share||16.6|
|Book Value Per Share||54.4|
|Cash Flow Statement|
|Operating Cash Flow||291.99M|
|Levered Free Cash Flow||-12.13M|
Highlights from 2020 CEO's Letter to Shareholders
Chief Executive Officer
"Overall, I am pleased with the commercial implementation of our Series 6 manufacturing roadmap. We started Series 6 commercial production in April of 2018, and exited 2020 with a nameplate manufacturing capacity of 6.3 gigawatts (GW)."
"With six factories currently in operation across a geographically diverse footprint in the United States, Malaysia, and Vietnam, we have a strong platform from which we expect to grow, increasing expected nameplate capacity ~50% by year-end 2022."
"In 2020, the capabilities of our CadTel technology continued to grow, as we exited the year with average watts per module of 440 and a top production bin of 445 watts. This momentum has continued into 2021, with our modules achieving a top production bin of 450 watts in February."
"Net sales in 2020 were $2.7 billion, with earnings per share of $3.73. Over the past three years we have invested in six new Series 6 factories, and despite this signicant investment, our healthy balance sheet remains a strategic differentiator. Our net-cash position, which includes cash and cash equivalents, restricted cash, and marketable securities, less debt, at year-end was $1.5 billion."
"Comparing December 2020 against December 2019, megawatts (MW) produced per day increased to 17.3MW, an increase of 23%. Fleet-wide capacity utilization increased to 117%, an increase of 20 percentage points. Production yield increased to 97.6%, an increase of 3.2 percentage points. Average watts per module increased to 439 watts, an increase of 9 watts, and as noted, our top production bin increased to 445 watts."
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First Solar's Capabilities
The company is focusing on markets and energy applications in which solar power can be a low cost solution. This includes regions with high solar resources, and high prices in electricity. First Solar differentiates its product offerings by geographic market. Products and service offerings are designed according to the following business areas:
- PV Solar Modules - The modules utilize the company's CdTe technology for manufacturing and quality control. First Solar's technology demonstrates performance advantages over crystalline silicon solar modules yielding long term reliability.
- Power Plant Solutions - These solutions develop and sell P0 solar power systems. These systems use modules manufactured to provide OM services. The company's gridconnected systems support its energy portfolio, reduce the consumption of fossil-fuel, and mitigate the risk of fuel price volatility.
First Solar Research and Development
The company's R&D department researches product development, manufacturing, and applications. The focus of First Solar's R&D is to improve the wattage and energy yield of solar modules. The company primarily conducts R&D activities and processes at the plant located in Perrysburg, Ohio.
First Solar regularly produces research cells in laboratories. The research cells are produced using lab equipment and methods that reflect the company's manufacturing capabilities.
First Solar Strategic Focuses
- Differentiated Technology
- Manufacturing Process
- Diversified Capabilities
- Financial Viability
- First Solar Contact Information
- First Solar Org Charts on Corporate Structure, Executive Leadership, Sales, Marketing, Finance, HR, Supply Chain, Technology, R&D, Manufacturing, etc.
- First Solar Financial Insights
- First Solar SWOT Report
- First Solar Technologies in Use
- First Solar IT Budgets
- First Solar Social Media Profiles
- First Solar Actionable Sales Trigger Events
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