5 October 2022
First Solar completes sale of 665MW Japan O&M platform to PAG
Cadmium telluride (CdTe) thin-film photovoltaic (PV) module maker First Solar Inc of Tempe, AZ, USA has completed the sale of its solar operations and maintenance (O&M) platform in Japan (announced in May) to funds managed by Tokyo-based PAG Real Assets (PAG), an Asia Pacific-focused private investment manager with more than $50bn in assets under its management.
The platform has about 665MWDC 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.
Previously, in July, First Solar had completed the sale to PAG (also announced in May) of a 293MWDC utility-scale solar project development platform in Japan.