First Solar Pens Contract With Energix Renewables For Solar Modules
Portfolio Pulse from Lekha Gupta
First Solar Inc (FSLR) has signed a contract with Energix Renewables to supply 5 GWDC ultra-low carbon thin film solar modules between 2026 and 2030. The modules will power Energix projects in Israel, Poland, and the U.S. FSLR also plans to invest $1.3 billion to increase its U.S. manufacturing capacity to 10.9 GWDC by 2026. The company's shares are trading higher by 0.44% at $192.14 premarket.
July 17, 2023 | 9:54 am
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POSITIVE IMPACT
First Solar's new contract with Energix Renewables and its planned $1.3 billion investment to increase U.S. manufacturing capacity could potentially boost its revenues and profitability in the long term. The news has already had a positive impact on the company's premarket stock price.
The new contract with Energix Renewables will provide First Solar with a steady stream of revenue between 2026 and 2030. Additionally, the company's planned investment to increase its U.S. manufacturing capacity indicates its confidence in the future demand for its products. This could potentially lead to increased revenues and profitability in the long term. The positive premarket stock price movement suggests that the market is reacting favorably to this news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100