Wednesday, August 7, 2013
First Solar In Equity Deal With GE, Buys Properties From Element Power
GE has taken a stake in Tempe, Arizona-based solar panel developer First Solar, as part of a commercial partnership between the companies, the two firms said Tuesday. According to GE and First Solar, GE received 1.75 million shares of First Solar's common stock as part of an eefort to accelerate thin-film solar technology development. Financial details of the deal were not disclosed. As part of the deal, First Solar has acquired GE's global cadmium telluride (CdTe) solar intellectual property portfolio. In a separate deal, First Solar also acquired a portfolio of and Mexico development assets from Element Power. The deals of that deal were also not announced.