What's Going On With First Solar Shares Today

  • First Solar Inc FSLR stock is jumping over 20% Friday morning.
  • FSLR strengthened its thin film photovoltaics (PV) offering via acquisition of Evolar AB in Europe.
  • The company paid a purchase price of $38 million and will also pay up to an additional $42 million, subject to the achievement of certain technical milestones in future. 
  • FSLR projects an impact of around $2-4 million (excluding the purchase price accounting) on 2023 operating expenses.
  • "With this acquisition, along with our new innovation center in the United States and longstanding commitment to R&D, we are investing not just in First Solar's future, but the future of solar energy," said Mark Widmar, chief executive officer, First Solar.
  • Post-closure of acquisition, about 30 of Evolar's R&D staff will move to First Solar and join their team of around 60 scientists at the research facility in Santa Clara, California, and the development teams in Perrysburg, Ohio. 
  • In October 2022, First Solar planned the construction of a new R&D innovation center in Perrysburg, Ohio, for $370 million, which is expected to complete in 2024.
  • Also readFirst Solar Positioned For Favorable Pricing, Revenue Visibility And Significant Market Share Growth, Says Analyst
  • Price Action: FSLR shares are trading higher by 21.2% at $222.12 on the last check Friday.

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