On the Record · First Solar
First Solar acquisitions, on the record
The businesses First Solar bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Evolar AB (“Evolar”), a European developer of perovskite technologyWord for word“For example, during 2023 we acquired Evolar AB (“Evolar”), a European developer of perovskite technology.” 10-K for 2023 | acquisition | during 2023 | — |
Evolar, a developer of perovskite technologyWord for word“In May 2023, we acquired 100 % of the shares of Evolar, a developer of perovskite technology, for cash payments of $ 35.5 million, net of cash acquired of $ 0.5 million, and a promise to pay additional consideration of up to $ 42.5 million contingent on the achievement of certain technical milestones.” 10-K for 2023 | acquisition | In May 2023 | cash payments of $ 35.5 million, net of cash acquired of $ 0.5 million, and a promise to pay additional consideration of up to $ 42.5 million |
Luz del Norte PV solar power plantWord for word“The increase in net sales was primarily attributable to an increase in the volume of modules sold to third parties and an increase in the average selling price per watt sold, partially offset by the sale of our Luz del Norte PV solar power plant in the prior year.” 10-K for 2023 | divestiture | in the prior year | — |
Japan project development business (sold to PAG)Word for word“In June 2022, we completed the sale of our Japan project development business for an aggregate purchase price of ¥ 66.4 billion ($ 490.8 million) and transferred cash and restricted cash of ¥ 8.4 billion ($ 61.9 million) to PAG.” 10-K for 2023 | divestiture | In June 2022 | aggregate purchase price of ¥ 66.4 billion ($ 490.8 million) |
North American O&M operations (to a subsidiary of Clairvest)Word for word“In March 2021, we completed the sale of our North American O&M operations to a subsidiary of Clairvest and received total consideration of $ 149.1 million.” 10-K for 2023 | divestiture | In March 2021 | total consideration of $ 149.1 million |
Chilean O&M operations (to a subsidiary of Clairvest)Word for word“In January 2022, we completed the sale of our Chilean O&M operations to a subsidiary of Clairvest and received total consideration of $ 1.9 million.” 10-K for 2023 | divestiture | In January 2022 | total consideration of $ 1.9 million |
Australian O&M operations (to a separate subsidiary of Clairvest)Word for word“In September 2022, we completed the sale of our Australian O&M operations to a separate subsidiary of Clairvest for consideration of $ 6.0 million.” 10-K for 2023 | divestiture | In September 2022 | consideration of $ 6.0 million |
Japanese O&M operations (to a subsidiary of PAG)Word for word“In September 2022, we also completed the sale of our Japanese O&M operations to a subsidiary of PAG for consideration of ¥ 692.7 million ($ 4.8 million).” 10-K for 2023 | divestiture | In September 2022 | consideration of ¥ 692.7 million ($ 4.8 million) |
U.S. project development business (to Leeward)Word for word“In March 2021, we completed the transaction and received consideration of $ 151.4 million for the sale of such business.” 10-K for 2023 | divestiture | In March 2021 | consideration of $ 151.4 million |
Evolar AB ("Evolar")Word for word“In May 2023, we acquired 100 % of the shares of Evolar, a developer of perovskite technology, for cash payments of $ 35.5 million, net of cash acquired of $ 0.5 million, and a promise to pay additional consideration of up to $ 42.5 million contingent on the achievement of certain technical milestones.” 10-K for 2024 | acquisition | May 2023 | $ 35.5 million, net of cash acquired of $ 0.5 million, and a promise to pay additional consideration of up to $ 42.5 million |
Japan project development businessWord for word“In June 2022, we completed the sale of our Japan project development business for an aggregate purchase price of ¥ 66.4 billion ($ 490.8 million) and transferred cash and restricted cash of ¥ 8.4 billion ($ 61.9 million) to PAG.” 10-K for 2024 | divestiture | June 2022 | ¥ 66.4 billion ($ 490.8 million) |
Chilean O&M operationsWord for word“In January 2022, we completed the sale of our Chilean O&M operations to a subsidiary of Clairvest and received total consideration of $ 1.9 million.” 10-K for 2024 | divestiture | January 2022 | $ 1.9 million |
Australian O&M operationsWord for word“In September 2022, we completed the sale of our Australian O&M operations to a separate subsidiary of Clairvest for consideration of $ 6.0 million.” 10-K for 2024 | divestiture | September 2022 | $ 6.0 million |
Japanese O&M operationsWord for word“In September 2022, we also completed the sale of our Japanese O&M operations to a subsidiary of PAG for consideration of ¥ 692.7 million ($ 4.8 million).” 10-K for 2024 | divestiture | September 2022 | ¥ 692.7 million ($ 4.8 million) |
Evolar ABWord for word“In May 2023, we acquired 100 % of the shares of Evolar AB (“Evolar”), a developer of perovskite technology, for cash payments of $ 35.5 million, net of cash acquired of $ 0.5 million, and a promise to pay additional consideration of up to $ 42.5 million contingent on the achievement of certain technical milestones.” 10-K for 2025 | acquisition | May 2023 | $ 35.5 million |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Cash received from selling businesses | Goodwill from acquisitions |
|---|---|---|---|
| 2016-12-31 | $10.3 million | — | — |
| 2019-12-31 | — | $0 | — |
| 2020-12-31 | — | $0 | — |
| 2021-12-31 | $0 | $300.5 million | — |
| 2022-12-31 | $0 | — | — |
| 2023-12-31 | $35.7 million | — | — |
| 2024-12-31 | $0 | — | $0 |
| 2025-12-31 | $0 | — | $0 |
Deal filings since 2016
- 2026-02-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2024-12-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-12-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-05-16 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-01-25 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-02-18 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-07-14 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-01-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from First Solar’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-24. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.