|Exchange:||NASDAQ national market|
|Stock:||First Solar, Inc.|
|First Solar, Inc. was incorporated as a Delaware corporation on February 22, 2006. The Company manufactures and sells solar modules with an advanced thin film semiconductor technology, and it designs, constructs and sells photovoltaic (PV) solar power systems. The Company is the PV solar module manufacturer and produced more than 1.1 gigawatts (GW) of solar modules in 2009, becoming the first PV Company to attain this production volume in a single year. It manufactures its solar modules on high-throughput production lines and performs all manufacturing steps ourselves in an automated, proprietary, continuous process. Its solar modules employ a thin layer of semiconductor material to convert sunlight into electricity. The Company designs, manufactures and sells solar electric power modules, which it produces at its plants in Perrysburg, Ohio, Frankfurt/Oder, Germany and Kulim, Malaysia. The Company also develop sites or other solar power project sites for building solar power systems using its solar modules and provide engineering, procurement and construction services. The Company operates its business in two segments: Components segment and Systems segment. The Company’s components segment designs, manufactures and sells solar modules to solar project developers and system integrators. The Company’s solar module is a single-junction polycrystalline thin film structure that uses cadmium telluride as the absorption layer and cadmium sulfide as the window layer. The Company has integrated its manufacturing processes into a continuous, integrated production line with the following three stages: the ‘deposition’ stage, the ‘cell definition’ stage, and the ‘assembly and test’ stage. Its manufacturing facilities in Perrysburg, Ohio, Frankfurt/Oder, Germany and Kulim, Malaysia have each received both an ISO 9001:2000 quality system certification and ISO 14001:2004 environmental system certification. Through its systems segment, it has the capability to provide a complete PV solar power system for utility-scale or large commercial systems, which includes project development, EPC, O&M services and, when required, project finance. The Company views the sale of solar modules from the components segment as the core driver of its profitability, return on net assets and cash throughput, and it views its systems segment as an enabler to drive module throughput. Its systems business is dependent upon successful completion of project development activities including: site selection and acquisition, obtaining in a timely manner the requisite interconnection and transmission studies, environmental and land use permits, maintaining effective site control, and entering into a power purchase agreement with an off-taker of the power to be generated by the project. The renewable energy, solar energy and solar module sectors are highly competitive and continually evolving as participants strive to distinguish themselves within their markets and compete within the larger electric power industry. The Company also faces competition from other EPC companies and joint ventures between EPC companies and solar companies. The Company is subject to various federal, state, local and international laws and regulations.|
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