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    First Solar Inc (FSLR)

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    First Solar, Inc. (FSLR) is a leading American solar technology company and global provider of photovoltaic (PV) solar energy solutions. The company specializes in the design, manufacture, and sale of cadmium telluride (CdTe) solar modules, which convert sunlight into electricity . These modules are produced using advanced thin film semiconductor technology, offering a high-performance, lower-carbon alternative to conventional crystalline silicon PV solar modules . First Solar's business activities are centered around providing eco-efficient solar energy solutions, with a strong focus on reducing environmental impacts and enhancing the social and economic benefits of their products across their life cycle .

    1. Modules Business - Sells solar modules to system developers, independent power producers, utilities, commercial and industrial companies, and other system owners and operators, driving the majority of the company's consolidated operating results.
    2. Residual Business Operations - Engages in project development activities, provides operations and maintenance (O&M) services, and sells PV solar power systems, contributing a smaller portion to the overall revenue.
    NamePositionStart DateShort Bio
    Mark R. WidmarChief Executive OfficerJuly 2016Mark R. Widmar has been serving as the CEO of First Solar since July 2016. He joined First Solar in April 2011 as CFO and also served as the company's Chief Accounting Officer from February 2012 through June 2015. Prior to his role as CEO, he was the CFO from March 2015 to June 2016 .
    Alexander R. BradleyChief Financial OfficerOctober 2016Alexander R. Bradley was appointed as the CFO of First Solar in October 2016. He joined the company in May 2008 and previously served as Vice President of both Treasury and Project Finance .
    Georges AntounChief Commercial OfficerJuly 2016Georges Antoun was appointed as the Chief Commercial Officer of First Solar in July 2016. He initially joined First Solar in July 2012 as the Chief Operating Officer and was later appointed as President, U.S. in July 2015 .
    Michael KoralewskiChief Supply Chain OfficerNovember 2022Michael Koralewski was appointed as the Chief Supply Chain Officer at First Solar in November 2022. He joined First Solar in 2006 and has held several senior roles in operations and quality management .
    Kuntal Kumar VermaChief Manufacturing OfficerNovember 2022Kuntal Kumar Verma was appointed as the Chief Manufacturing Officer at First Solar in November 2022. He joined First Solar in 2002 and has served in progressively more senior roles in engineering and manufacturing .
    Patrick BuehlerChief Product OfficerDecember 2022Patrick Buehler was appointed as the Chief Product Officer at First Solar in December 2022. He has over 20 years of operational and technical experience and joined First Solar in 2006 .
    Markus GloecklerChief Technology OfficerNovember 2020Markus Gloeckler was appointed as the Chief Technology Officer of First Solar in November 2020, after serving as Co-Chief Technology Officer starting in July 2020. He joined First Solar in 2005 .
    Caroline StockdaleChief People and Communications OfficerOctober 2020Caroline Stockdale joined First Solar in October 2019 as Executive Vice President, Human Resources and Communications, and was appointed Chief People and Communications Officer in October 2020 .
    Jason DymbortGeneral Counsel and SecretaryJuly 2020Jason Dymbort joined First Solar in March 2008 and was appointed as General Counsel and Secretary in July 2020. He oversees the company's legal department globally .
    1. Given the uncertainties surrounding the upcoming November elections and the potential for policy reversals affecting the Inflation Reduction Act, how is First Solar adjusting its business strategy to mitigate risks associated with possible changes in U.S. trade and renewable energy policies?
    2. With the projected U.S. oversupply position of approximately 40 gigawatts by the end of 2024 due to China's continued overcapacity and dumping practices, how does First Solar plan to maintain its market share and profitability in this challenging environment?
    3. You mentioned that some multinational oil and gas and utility companies are reconsidering their strategic direction by potentially pivoting back to fossil projects; how might this shift impact First Solar's future bookings and growth projections, especially in relation to demand from these customers?
    4. Can you elaborate on the significance of your recent acquisition of TOPCon technology patents and how you plan to leverage them to strengthen your competitive position, particularly regarding enforcement actions against potential infringers?
    5. Considering the potential for new tariffs on imports and the threat of critical circumstances determinations imposing retroactive cash deposit requirements, what contingency plans does First Solar have to address possible adverse impacts on gross margins from your Malaysia, Vietnam, and India production sold into the U.S. market?
    YearAmount Due (USD, Millions)Debt TypeInterest Rate (%)% of Total Debt
    2024208.261Current Portion of DebtN/A35.8% = (208.261 / 581.998) * 100
    202529.057India JPM Working Capital FacilityN/A5.0% = (29.057 / 581.998) * 100
    202570.474India HSBC Working Capital FacilityN/A12.1% = (70.474 / 581.998) * 100
    202517.917India Citibank Working Capital FacilityN/A3.1% = (17.917 / 581.998) * 100
    2029464.550India Credit FacilityN/A79.8% = (464.550 / 581.998) * 100
    CustomerRelationshipSegmentDetails
    Lightsource BP
    Purchases solar modules for U.S. PV power systems
    Modules
    10% of modules net sales in 2023; equivalent to approx. $332 million (10% of $3,318.602 million total net sales).
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2000 PresentCurrent auditor

    Recent developments and announcements about FSLR.

    Corporate Leadership

      Leadership Change

      ·
      Jan 10, 2025, 9:32 PM

      Who is leaving? Byron Jeffers is transitioning from his role as Vice President, Global Controller and Chief Accounting Officer to become Vice President, Treasurer, and Head of Investor Relations at First Solar.

      Why? The company has appointed Nathan Theurer as the new Vice President, Global Controller, and Chief Accounting Officer, effective January 6, 2025, as part of an internal restructuring.

      Who is stepping up? Nathan Theurer, who has been with First Solar since 2014 and previously served as Corporate Controller, is stepping into the role of Vice President, Global Controller, and Chief Accounting Officer.