06.04.2017 05:15:27

First Solar To Review Alternatives For Sale Of Its Stake In 8point3 Energy

(RTTNews) - First Solar Inc. (FSLR) announced that it is reviewing alternatives for the sale of its interests in 8point3 Energy Partners. First Solar will coordinate this review with its partner SunPower.

First Solar noted that it is exploring options for the sale of its interests in 8point3 in order to refocus resources on Series 6 objectives and allow for faster recycling of systems business capital. This capital would support the planned transition to Series 6 production and provide additional funding for the expected deployment of multiple gigawatts of Series 6 capacity over the next several years.

First Solar intends to accelerate the return of capital from its systems business by selling projects earlier in the construction phase. This includes the California Flats and Cuyama projects, which have been formally offered to 8point3. If 8point3 is unable to acquire these projects, First Solar expects to sell these projects to third parties.

The consideration of a potential sale of its interests in 8point3 by First Solar is at a preliminary stage and may not result in any transaction being proposed or, even if proposed, consummated, the company said.

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