Solar plant. Photo by: First Solar (www.firstsolar.com)
First Solar Inc (NASDAQ:FSLR) announced today it has completed the divestment of its solar operations and maintenance (O&M) platform in Japan to funds managed by PAG Real Assets as part of a larger deal from earlier this year.
The latest sale to close concerned about 665 MW direct current (DC) of solar assets under management in Japan. The deal also saw most of First Solar O&M employees in the country transfer to PAG.
In May, the US-based thin-film photovoltaic (PV) modules maker agreed on a sale to PAG of its 293-MW DC utility-scale solar project development platform in Japan along with its local solar O&M activities.
The transaction involving the development assets was finalised in July. At the time, First Solar noted that the disposal of the O&M platform was still pending regulatory clearance and some third-party consents.