First Solar takes 2009 revenue past US$2 billion: guides close to US$3 billion for 2010

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

UPDATED: Financial results for First Solar in 2009 clearly place the CdTe thin-film solar producer as the number-one photovoltaics manufacturer by revenue in the world in 2009. This is the first time that the company has reached this position. Revenues topped US$2,066.2 million in 2009, up from US$1,246.3 million in 2008. Fourth-quarter revenue reached  US$641.3 million, up from $480.9 million in the third quarter. Module production for the quarter reached 311MW, a new record for the company, resulting in 2009 production levels of 1.1GW, a record for the industry. Annualized capacity per line reached 53.4MW.

The company also announced that it was expanding production at its Malaysian facilities and plans to add 8 new lines, with shipments starting in the first half of 2011.

Capital spending for 2010 was said to be between US$500 and US$550 million.

Update (2) Conversion efficiencies of its CdTe thin-film modules reached 11.1% in the quarter and the module manufacturing cost was US$0.84 per watt. Production cost per watt was lowered to US$0.80 per watt. The company is confident of a 3.5% per annum reduction through 2014.

First Solar also updated capacity plans for its Ohio facility and its joint venture in France with EDF. Combined with the Malaysian fab expansions, First Solar expects to reach a production capacity increase of only 54MW in 2010, due mainly to improved line optimization and line expansion at its Ohio fab, already being expanded.

However, capacity is expected to reach 1.7GW in 2011 with lines 5 and 6 coming online in Malaysia by midyear. The planned EDF manufacturing partnership will provide a 107MW boost to capacity in 2012, with a total capacity reaching 1,816MW by the end of 2012.

Update (3) With a high exposure to the German market, executives noted that they expected installations to be approximately 3GW in 2010, basically flat with what they believe was installed in 2009.

In 2010, despite efforts to open other geographical markets, such as the U.S, the company still expects approximately 40 to 50% of its module sales to come from Germany.

Because of the planned feed-in tariff changes due for implementation on June 1, First Solar expects shipments to Germany to be first half year loaded.


22 September 2021
To commemorate the World Energy Storage Day(WESD) on 22 September, being recognized worldwide, Customized Energy Solutions (CES) and India Energy Storage Alliance (IESA) is organising the 5th global conference and virtual expo, which will be held virtually on 22 September 2021. WESD is a global movement initiated by various apex trade bodies working to promote and adopt energy storage, e-mobility & green hydrogen technologies for a sustainable future. The forthcoming edition of WESD is expected to attract global participation with an intent to facilitate bi-lateral trade, market development and new research and innovation, which will invite 100+ countries, 100+ regulators & policy makers, 100+ International speakers,1000+ organisations, 100+ partners & exhibitors and 20,000+ global delegates.
28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 16, 2021
Vistra Energy has welcomed the enactment of clean energy policies in Illinois which the power generation company said will support 300MW of solar and 150MW of battery storage to be built at nine of its coal plant sites. 
September 16, 2021
Renewables developer Amp Energy has secured financing for a 120MW solar installation in the Australian state of New South Wales that is expected to begin energisation in early 2022.
September 16, 2021
As much as 191GW of new solar PV is expected to be installed this year – up by a third on last year’s deployment figure – despite polysilicon and module prices remaining high into 2022, BloombergNEF has said.
September 16, 2021
Australia’s government has committed AU$19.2 million (US$14 million) to implement the recommendations of a new report that that aims to improve regulation and compliance in the country’s rooftop solar sector.
September 16, 2021
Energy engineering firm Babcock & Wilcox is to enter the US solar market through the acquisition of a majority stake in Illinois-based solar contractor Fosler Construction.
September 16, 2021
North American module manufacturer Silfab Solar has received an investment led by private equity firm ARC Financial Corp to help scale up its US PV production footprint.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021