ARIZONA NEWS

Tempe-based First Solar to acquire European company in $80 million deal

May 13, 2023, 6:30 AM

First Solar installing a solar farm. The Tempe-based solar panel manufacturer is acquiring a Europe...

First Solar installing a solar farm. The Tempe-based solar panel manufacturer is acquiring a European thin film company, in a deal valued up to $80 million. (First Solar Photo)

(First Solar Photo)

First Solar is acquiring Swedish thin film company Evolar in a deal valued up to $80 million, the Tempe-based solar panel manufacturer announced on Friday.

First Solar (Nasdaq: FSLR) agreed to buy Evolar for $38 million with an additional $42 million to be paid upon meeting certain technical milestones, according to a company release.

First Solar’s addition of Evolar — which makes thin film used in solar panels — is expected to bolster development of the company’s perovskite technology, including high-efficiency tandem devices.

“With this acquisition, along with our new innovation center in the U.S. and longstanding commitment to R&D, we are investing not just in First Solar’s future, but the future of solar energy,” Mark Widmar, CEO of First Solar, said in a statement.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Federal border response funds...

Nick Borgia

Arizona officials announce nearly $55M in federal border response funds

AZ Senators Mark Kelly and Kyrsten Sinema announced nearly $55M in federal border response funds to support Arizona's border communities.

58 minutes ago

Joshua Holbert is accused of critically injuring a 13-year-old boy in a Glendale hit-and-run on Apr...

KTAR.com

Suspect arrested in Glendale hit-and-run that critically injured 13-year-old boy

A suspect accused of critically injuring a 13-year-old boy in a Glendale hit-and-run turned himself in Saturday, authorities said.

3 hours ago

A paramotor pilot died after crashing crashing their aircraft south of Phoenix on April 14, 2024. (...

KTAR.com

Paramotor pilot dead after crashing aircraft south of Phoenix

A paramotor pilot died after crashing crashing their aircraft south of Phoenix on Sunday morning, authorities said.

5 hours ago

A Silver Alert was issued for a 90-year-old woman with dementia last seen in Tolleson on Saturday, ...

KTAR.com

Silver Alert canceled after 90-year-old Tolleson woman found dead

A Silver Alert was canceled Sunday after a 90-year-old woman with dementia and depression last seen in Tolleson on Saturday was found dead, authorities said.

6 hours ago

Bradley Klose has been missing since April 4, 2024. (DPS Photo)...

KTAR.com

Silver Alert issued for 16-year-old Peoria boy with autism

A Silver Alert was issued Sunday for a 16-year-old Peoria boy with autism who didn't make it home after work more than a week ago.

6 hours ago

Sunday Peoria crash fatality story...

KTAR.com

1 dead, 5 injured after car crashes into house in Peoria

One person is dead and five others were hospitalized after a car crashed into a house in Peoria early Sunday morning.

7 hours ago

Sponsored Articles

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

...

Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

(KTAR News Graphic)...

Boys & Girls Clubs

KTAR launches online holiday auction benefitting Boys & Girls Clubs of the Valley

KTAR is teaming up with The Boys & Girls Clubs of the Valley for a holiday auction benefitting thousands of Valley kids.

Tempe-based First Solar to acquire European company in $80 million deal