Summary
First Solar, Inc. (FSLR) announced on September 28, 2007, a significant expansion of its long-term customer commitments. The company entered into a new supply contract and extended five existing ones, collectively increasing the total volume of solar modules to be sold between 2007 and 2012 by 625 MW. This expansion represents an estimated additional sales revenue of approximately $1.1 billion, based on an assumed exchange rate of $1.30/€1.00. These agreements with European partners like Blitzstrom GmbH, Conergy AG, and others underscore First Solar's growing market presence and its ability to secure substantial future revenue streams, providing a strong outlook for investors.
Key Highlights
- 1Secured new long-term supply contract with ASSYCE Fotovoltaica.
- 2Extended terms of five existing long-term supply contracts with key European partners.
- 3Total module volume increase of 625 MW across the agreements.
- 4Estimated additional sales of approximately $1.1 billion from these arrangements.
- 5Supply agreements cover the period from 2007 through 2012.
- 6Assumed exchange rate for revenue calculation is $1.30/€1.00.
- 7These agreements demonstrate strong demand and forward visibility for First Solar's products.
Frequently Asked Questions
The new and extended contracts are expected to generate approximately $1.1 billion in additional sales revenue, based on an assumed exchange rate of $1.30/€1.00.
These agreements cover the sale and purchase of solar modules between the years 2007 and 2012.
The agreements are with several European entities, including new partner ASSYCE Fotovoltaica, and existing partners Blitzstrom GmbH, Conergy AG, Gehrlicher Umweltschonende Energiesysteme GmbH, Phoenix Solar AG, and Reinecke + Pohl Sun Energy AG.
The contracts collectively increase the total volume of modules to be sold by an aggregate of 625 MW.