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LONDON, UK / ACCESSWIRE / June 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for - First Solar, Inc. (NASDAQ: FSLR). The green energy Company announced on June 09, 2017, that it has secured a syndicated development loan for approximately 7 billion yen (US$64 million). The loan is between First Solar and Mizuho Bank Ltd, which is a unit of Mizuho Financial Group Inc. The loan agreement is towards the development of utility-scale solar project pipeline in Japan where the Company plans to use its solar modules. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Semiconductor - Specialized industry. Pro-TD has currently selected Hanwha Q CELLS Co., Ltd. (NASDAQ: HQCL) for due-diligence and potential coverage as the Company reported on May 25, 2017, its unaudited financial results for Q1 2017 which ended on March 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Hanwha Q CELLS when we publish it.

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About the syndicated development loan

The funds availed via this loan will enable First Solar to use its next generation Series 6 technology for utility-scale solar projects in Japan. First Solar's Series 6 technology is known for its performance and reliability and has already been proven and tested globally. First Solar's panels offer an attractive combination of power output, superior energy production, and stable performance. This helps mega-solar power plant owners to produce more energy and revenue than alternative technologies.

In November 2016, the Company announced that it would use its production facilities to move from the production of Series 4 modules to the production of Series 6 modules in FY17-18. First Solar aims to produce approximately 3 Gigawatts in 2019. At that time, the Company has announced that is cancelling its Series 5 product.

This is the first syndicated development loan availed by First Solar from Mizuho Bank. However, this is the third loan that the Company has secured from Mizuho Bank. By securing this loan, First Solar has demonstrated its capabilities in project development and track record in successfully financing and delivering projects that support Japan's targets for renewal energy. Japan has a renewable energy target of 7% solar by 2030 as a part of its plan to reduce its dependency on imported fossil fuels. First Solar has a strong and a long-term sustainable business model in place to support Japan's environment goals.

In February 2017, First Solar had secured a syndicated loan of approximately 27 billion yen ($240 million) from Mizuho Bank for a utility-scale solar project in Ishikawa prefecture, Japan. The Ishikawa Sogo Solar Power Plant is one of the largest mega solar projects in the Hokuriku region and has a generation capacity of 59.5 megawatt. The completed project has the capacity to provide clean energy for around 17,500 average Japanese homes, displacing approximately 35,000 metric tons of carbon dioxide per year.

The above syndicated loan was in addition to the existing construction loan of approximately 4 billion yen ($33 million) financed by Mizuho Bank in September 2015 to develop, construct, and operate various utility-scale solar projects.

About the Mizuho Bank

Tokyo, Japan based, The Mizuho Financial Group, Inc. is a bank holding Company which was established in January 2003. The Group and its subsidiaries and affiliates provide banking, trust banking, securities and other financial services. The Group is the holding Company for Mizuho Bank, Mizuho Trust & Banking, Mizuho Securities and other group Companies. Mizuho is the sole megabank to have approximately 800 branches in all 47 prefectures, and has the No. 1 ATM network in Japan with approximately 6,700 ATMs as on March 31, 2016. It has approximately 24 million individual customers and covers nearly 70% of the listed Companies in Japan. The Group has a global network of 117 offices in 38 countries.

Mizuho is committed to offer financial products and services that encourage society to promote environmental considerations.

About First Solar

Tempe, Arizona based First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems using low-cost proprietary thin film semiconductor technology. First Solar's high-efficiency modules offer higher energy yield and reliability compared to silicon-based modules. The Company's modules deliver up to 7.5% more usable energy per nameplate watt than competing technologies. Till date the Company has sold over 17GW of modules. The Company offers a wide range of clean, renewable energy generation products and services including raw material sourcing, module sales, turnkey power plant development, operations and maintenance, and end-of-life module recycling.

First Solar recorded revenue of $3 billion in FY16 and has a global team of over 5,400 employees.

Last Close Stock Review

On Friday, June 09, 2017, the stock closed the trading session at $36.65, declining 3.04% from its previous closing price of $37.80. A total volume of 2.20 million shares have exchanged hands. First Solar's stock price rallied 0.22% in the last one month, 13.12% in the past three months, and 9.11% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 14.21%. The stock currently has a market cap of $3.74 billion.

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