The US cadmium telluride (CdTe) thin-film module manufacturer First Solar has seen its share rose about 8% and become the best performing stock in the S&P 500 on Monday after the company have signed a framework agreement with Isreali-based solar developer Energix Renewables to supply 5GW power modules.The 7GW portfolio of projects being developed by …
The US cadmium telluride (CdTe) thin-film module manufacturer First Solar has seen its share rose about 8% and become the best performing stock in the S&P 500 on Monday after the company have signed a framework agreement with Isreali-based solar developer Energix Renewables to supply 5GW power modules.
The 7GW portfolio of projects being developed by the Israeli developer in Israel, Poland, and the US will be powered by the provided modules, and First Solar will recycle the obsolete modules from Energix projects. As the module maker sold all of its US capacity through 2026 earlier this year and established a backlog of 70GW modules, modules will be supplied between 2026 and 2030.
The solar developer has already placed approximately 3.5GW worth of orders with a manufacturer of CdTe thin-film modules and this supply deal further added into the order. Energix CEO Asa (Asi) Levinger stated that the deal was the company’s biggest deal and “strong reflects the long-term strategic partnership with First Solar. He also added that the deal constitutes a significant milestone in Energix growth as the company rapidly expanding its global pipeline with the focus on the U.S.
Follow the release of the news, First Solar shares surged over 8% higher while also bring the shares of other solar power companies to climb as well.
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