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4-Traders Homepage  >  Equities  >  Nasdaq  >  First Solar, Inc.    FSLR

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First Solar, Inc. : First Solar Establishes Indian Operating Company,

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05/03/2012 | 08:35pm CET

NEW DELHI - May 3, 2012- First Solar, Inc. (NASDAQ: FSLR) today announced the appointment of Sujoy Ghosh as Country Head to lead business development in India and manage the Company's new entity based in New Delhi. In this new role, Ghosh will be responsible for advancing and executing First Solar's business strategy to expand the market for utility-scale solar photovoltaic (PV) power plants and to deliver value to Indian solar power producers. He reports to Jim Brown, First Solar Executive Vice President for Global Business Development.

With more than 20 years of Industry experience, Ghosh joins First Solar from GE Energy, where he was the regional general manager for the Power Generation business. He has worked in a diverse range of businesses from transmission and distribution to thermal power generation to renewable energy. Prior to joining GE, Ghosh worked at Tata Honeywell in sales and market development for 13 years.

"India is a land of immense opportunity for solar energy and First Solar, and we will continue to invest here as part of our strategy to develop sustainable, utility-scale solar markets where energy demand is strong and growing," said Brown. "Sujoy's extensive experience in the energy industry and strong understanding of the Indian market will be invaluable to First Solar as we work to help India meet its energy needs with clean solar power."

"India is taking a progressive approach by incorporating clean, renewable sources of power in its plans to address its growing energy needs," said Ghosh. "I am pleased to join First Solar, which has proven solutions to support India's energy and economic growth."
India is expected to become one of the world's major solar markets due to its strong growth, significant energy demand and abundant solar resource. First Solar entered the Indian PV market in 2011 and is a local market leader for large-scale PV power plants. India accounted for around 8% of the company's net sales in 2011.

About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module collection and recycling, First Solar's renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com .

For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

Media Contacts
Charu Kohli (India/APAC)
+ 91 981 173 3347
Charu.kohli@bm.com

Brandon Mitchener (EMEA)
+32-2-233-1113
media@firstsolar.com

Alan Bernheimer (Americas)
+1 (415) 935-2499
media@firstsolar.com

Investor Contacts
David Brady
dbrady@firstsolar.com

Luke Fairborn
lucas.fairborn@firstsolar.com
+1 (602) 414-9315

Michelle Pereira
Michelle.pereira@firstsolar.com
+1-602 414 9382

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Financials ($)
Sales 2016 2 913 M
EBIT 2016 309 M
Net income 2016 -104 M
Finance 2016 1 178 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017 43,49
EV / Sales 2016 0,74x
EV / Sales 2017 0,81x
Capitalization 3 330 M
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Average target price 34,3 $
Spread / Average Target 7,0%
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Mark R. Widmar Chief Executive Officer & Director
Michael J. Ahearn Non-Executive Chairman
Philip Tymen de Jong Chief Operating Officer
Alexander R. Bradley Chief Financial Officer
Raffi Garabedian Chief Technology Officer
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