January 25, 2021

CohnReznick Capital Advises First Solar on Sale of Solar Development Platform to Leeward Renewable Energy

First Solar, Inc. (Nasdaq: FSLR) has entered into a Purchase and Sale Agreement (the “Agreement”) with Leeward Renewable Energy, LLC (“Leeward”), as a result of which Leeward will acquire from First Solar a utility-scale solar project development platform of approximately 10 gigawatts (GW)AC.

Headquartered in Dallas, Texas, Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans. The transaction is expected to close in the first quarter of 2021, after obtaining regulatory approvals and satisfying customary closing conditions.

CohnReznick Capital acted as financial advisor to First Solar on the transaction.

“First Solar has established one of the strongest solar project pipelines in the U.S. market,” said Britta von Oesen, Managing Director at CohnReznick Capital. “We are thrilled to support them on this marquee transaction, which underscores the value of ESG for pension funds and institutional investors.”

For additional details on this transaction, please contact:

Britta von Oesen
Managing Director

About First Solar
First Solar (NASDAQ: FSLR) is a leading global provider of comprehensive photovoltaic (“PV”) solar energy solutions, which use its advanced module and system technology. The Company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.