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Now that the end of the NextLight acquisition is drawing near, First Solar has turned its focus to the large-scale photovoltaic system solutions market with the formation of a utility systems business group. The company's chief financial officer of four years, Jens Meyerhoff, has been named president of the initiative.
"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," said Rob Gillette, First Solar CEO. "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."
When NextLight closes in the next quarter, First Solar will have a total of 2.2GW utility-scale solar project power purchase agreements in North America. To date, First Solar has built or has under construction 189MW of utility systems projects in North America.
The company has begun an immediate search for a new CFO; Meyerhoff will remain in the position until a replacement is appointed.
