The company said it sold Section 45X tax credits of $857 million generated in 2024 from its sales of solar modules produced in the United States, under two sale agreements, and that a third party agreed to pay First Solar $0.955 for every $1.00 of tax credits.

1. 01

   The company said it sold Section 45X tax credits of $857 million generated in 2024 from its sales of solar modules produced in the United States, under two sale agreements, and that a third party agreed to pay First Solar $0.955 for every $1.00 of tax credits.

2. 02

   First Solar said the fixed-transaction tax credit payment of $645 million was made in two installments, on December 6, 2024 and December 30, and that it expects the variable transaction of $212 million to be completed by February 28, 2025.

3. 03

   First Solar said it expects to receive approximately $819 million in gross cash proceeds once the transaction is completed. Chief Financial Officer Alex Bradley said the deal strengthens the balance sheet while the company continues to invest in its US manufacturing capacity and research and development infrastructure.

4. 04

   First Solar said it expects a pre-tax earnings impact of approximately $39 million and a post-tax earnings impact of approximately $45 million for fiscal 2024, reducing diluted earnings per share for the year by approximately $0.42.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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