Even for the tumultuous solar realm, OptiSolar has experienced some blistering highs and some withering lows. Now, with a combination of a huge development pipeline and inadequate cash and/or credit to move forward on its own, the company has sold out to First Solar
Last August, the thin-film startup landed a gigantic power-plant deal from PG&E
First Solar has long been a cash flow-positive, low-cost leader. Now that the solar freeze has taken hold, the company is in a pretty rare position to be able to nurture other struggling solar players. First it was supporting customers by extending payment terms and looking at partially financing large solar projects. Now First Solar is bringing OptiSolar's very successful development team under its wing.
This is a big win for both sides, but perhaps moreso for First Solar. This acquisition instantly adds nearly two gigawatts of utility-scale solar projects to the development pipeline. Since both companies use thin-film technology, the shift from OptiSolar panels to First Solar panels shouldn't pose any problems.
In the quarterly call, First Solar's biggest cautionary remark regarded the possibility of producing too many modules in the face of inadequate demand. This acquisition should put those concerns to bed and help investors sleep at night. SunPower and Google