Over the weekend, Barron’s wrote up a piece on First Solar (FSLR) highlighting the company’s negative free cash flow and goes so far as to say the revenue beat was a figment of bookkeeping for a project in Berlin in which the company recognized $84 in revenue. The author also questions the OptiSolar transaction and the way the company booked the value of a PG&E contract. All in all, it didn’t help the stock much … Read the rest
Tag Archives: optisolar
First Solar (FSLR) Pushing Further Into Utility Scale Solar Power With Purchase of OptiSolar
First Solar (FSLR) announced after the bell today that it will acquire all of OptiSolar’s project development business in an all stock transaction valued at approximately $400 million. The acquisition is expected to be completed in the 2nd quarter and includes:
– 550MW AC solar development project under a power purchase agreement with PG&E
– A project pipeline of an additional 1300MW AC that’s in negotiation with Western regional utilities
– Land rights of about … Read the rest