First Solar to sell U.S. development platform to Canadian pension fund

  • First Solar (NYSE:FSLR) has agreed to sell a 10 GW utility-scale solar project platform in the U.S. to Leeward Renewable Energy Development - a subsidiary of OMERS Infrastructure, a major Canadian pension fund - for $261M.
  • The deal includes the Rabbitbrush, Madison, Oak Trail, Horizon and Ridgely projects in the U.S., which are expected to start construction in the next two years, and the 30 MW Barilla solar project, which already is operational.
  • Subject to the deal closing, Leeward also will buy 650 MW of First Solar 's Series 6 PV solar modules for its additional development opportunities and purchase orders for 888 MW of Series 6 modules for the five development projects.
  • First Solar says it will retain 1.1 GW of U.S. projects in its portfolio that it will sell separately, while key members of its project development team are expecting to join Leeward.

    Fundamentals First Solar

    For this year the company from Tempe could earn a total revenue around 2.83 billion USD. This is according to the average of the analysts' estimates. This is slightly lower than 2019's revenue of 3.06 billion USD.

    Historical revenues and results First Solar plus estimates 2020

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    The analysts expect for 2020 a net profit of 420 million USD. The majority of the analysts expects for this year a profit per share of 3.83 USD. With this the price/earnings-ratio is 27.44.

    Analysts don't expect the company to pay a dividend. The average dividend yield of the semiconductor companies equals a poor 0.35 percent.

    Based on the current number of outstanding shares First Solar 's market capitalization is 11.02 billion USD. The First Solar stock was the past 12 months quite volatile. Since last January the stock is even 107 percent higher. This year the stock price moved between 28 and 113 dollar.

    Historical stock prices First Solar

    stock prices firstsolar

    Click here for dividend First Solar. At 22.00 the stock trades 5.66 percent lower at 105.1 USD.

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