First Solar Inc. (FSLR): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

First Solar Inc. designs, manufactures, and sells solar electric power modules using a proprietary thin film semiconductor technology. The company's solar modules employ a thin layer of cadmium telluride semiconductor material to convert sunlight into electricity. It sells its products to project developers, system integrators, and operators of renewable energy projects primarily in Europe with a distinct focus on Germany. First Solar also focuses on designing and deploying commercial solar projects for utilities. The company was founded in 1999 and was incorporated in 2006. It was formerly known as First Solar Holdings, LLC, and changed its name to First Solar Holdings, Inc. and subsequently to First Solar, Inc. in 2006.

First Solar is headquartered in Tempe, Ariz. Its solar modules manufacturing facilities are located in Perrysburg, Ohio in the U.S., Frankfurt (Oder) in Germany and at Kulim in Malaysia. The company also has a research and development facility located at its Perrysburg, Ohio manufacturing facility. First Solar operates through two operating segments.

Components Segment

First Solar's Components segment is involved in the design, manufacturing and sale of solar modules that convert sunlight to electricity. The company manufactures its modules in Perrysburg, Ohio Frankfurt, Germany and Kulim, Malaysia. First Solar sells most of its solar modules to solar project developers and system integrators headquartered in Germany, France, Spain and Italy. Its customers develop, construct, own and operate solar power plants or sell turnkey solar power plants to end-users that include owners of land, agricultural buildings, commercial warehouses, offices and industrial buildings, public agencies, municipal government authorities, utility companies and financial investors who desire to own large scale solar power plant projects.

Systems Segment

First Solar's Systems segment provides a complete photovoltaic (PV) solar power system solution, which includes project development, EPC services, O&M services and, when required, project finance. The company's project development activities are currently focused on markets in North America, Europe and Asia. First Solar caters to a diverse range of customers consisting of investor owned utilities, independent power developers and producers, commercial and industrial companies, and other system owners.