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Slide #87. First Solar, Inc. — TetraSun
First Solar, Inc. (NASDAQ:FSLR)
First Solar, Inc. (NASDAQ:FSLR) today announced it is acquiring TetraSun, a solar photovoltaic (PV) technology startup which has developed a break-through cell architecture capable of conversion efficiencies exceeding 21 percent with commercial-scale manufacturing costs comparable to conventional multicrystalline silicon solar cells. First Solar signed a definitive agreement to acquire TetraSun from JX Nippon Oil & Energy Corporation and other investors, including TetraSun management. Terms of the transaction, which is expected to close in the second quarter of 2013, were not disclosed. First Solar and JX Nippon Oil & Energy also have entered into discussions on an agreement to distribute the technology in Japan.
First Solar is a provider of photovoltaic (PV) solar energy solutions. Co. designs, manufactures and sells PV solar modules with a thin film semiconductor technology, and also develops and sells PV solar power systems that mainly use the modules it manufactures. Co. also provides operations and maintenance (O&M) services to system owners. Co.'s modules segment involves the design, manufacture and sale of cadmium telluride solar modules, which convert sunlight into electricity. Co.'s second segment is its systems segment, through which it provides power plant solutions, which include project development, engineering, procurement, and construction services and O&M services.
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