U.S. agency to lend $500M for First Solar panel factory in India

  • The U.S. International Development Finance Corp. says it will offer a $500M debt financing loan to First Solar (FSLR) to build a solar panel factory in India, in an effort to weaken China's dominance of the solar industry's supply chain.
  • DFC sought out the deal because it wanted to diversify the solar supply chain, according to the Wall Street Journal, which also notes that First Solar 's technology does not require polysilicon, allowing it to bypass the supply chain from China's Xinjiang province.
  • As much as half of the world's polysilicon for solar panels comes from Xinjiang, where the U.S. and other countries say Chinese officials have subjected mostly Muslim minorities to mass internment and forced labor.
  • The deal will lighten the burden on First Solar because the agency can offer better financing terms than commercial banks, agency COO David Marchick tells WSJ, adding that the agency also wants to send the message that the U.S. is willing to back an alternate solar supply chain with its own resources.
  • First Solar announced plans for a $684M factory in India's Tamil Nadu state in July.

    Over the current book year the total revenu from the company based in Tempe will be 2.93 billion USD (consensus estimates). This is slightly more than 2021's revenue of 2.71 billion USD.

    Historical revenues and results First Solar plus estimates 2021

    fundamantele data

    The analysts expect for 2021 a net profit of 448 million USD. According to most of the analysts the company will have a profit per share for this book year of 4.18 USD. The PE-ratio therefore is 22.8.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the semiconductor companies equals a limited 1.12 percent.

    Based on the current number of outstanding shares First Solar 's market capitalization is 10.05 billion USD. 4

    At 21.14 the stock trades 2.32 percent lower at 95.32 USD.

    Historical stock prices First Solar past 10 years

    stock graphs firstsolar

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