First Solar (FSLR) CFO To Lead New Utility Systems Division

First Solar (FSLR) will form a new utility systems business group to address the large-scale photovoltaic (PV) system solutions market which will be headed by current CFO Jens Meyerhoff.  Following its NextLight acquisition which is expected to close this quarter, the company sees big potential in the utility scale business and will have 2.2GW in power purchase agreements under its belt from the deal.  The company will look for a replacement CFO as soon as possible.

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Said CEO Rob Gillette, “With the pending completion of First Solar’s acquisition of NextLight, this part of our global business represents the next leg of growth for our industry and First Solar.  Jens brings significant financial, operations and market expertise to the utility systems business in order to provide our customers with a full PV system solution to their renewable energy needs. He will ensure an integrated, portfolio-based approach to project economics–from site selection and project development through to transmission access, power purchase agreement and project asset sale.”

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