First Solar Completes Sale of Japan Operations & Maintenance Platform to PAG Real Assets – EQ Mag Pro
TEMPE, Ariz. and TOKYO : Please note that the release issued earlier today by First Solar, Inc. (Nasdaq: FSLR), has been corrected as follows:
First Solar, Inc. (Nasdaq: FSLR) has completed the previously announced sale of its solar operations and maintenance (O&M) platform in Japan to funds managed by PAG Real Assets (“PAG”).
The platform has approximately 665 megawatts (MW)DC of solar assets under management in the country. As part of the sale, the majority of First Solar O&M employees in Japan have joined PAG.
PAG is a leading Asia Pacific-focused private investment manager with more than $50 billion in assets under management.
About First Solar, Inc.
First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet
PAG is a leading alternative investment firm focused on APAC with three core strategies: Credit & Markets, Private Equity, and Real Assets. Founded in 1997 as Secured Capital Japan, PAG Real Assets has invested $32 billion across more than 7,000 properties across the Asia-Pacific region. PAG manages capital on behalf of nearly 300 institutional fund investors, including some of the most sophisticated global asset allocators. As of 31 December 2021, PAG had 293 investment professionals in 12 key offices globally. PAG has more than $50 billion in assets under management.