First Solar Acquires Swedish Solar Tech Firm Evolar for Up to $80 Million in 2025, Shares Surge Over 25%
In 2025, First Solar's strategic acquisition of Swedish thin-film solar specialist Evolar for up to $80 million propels the company’s innovation in photovoltaic technology, driving their stock price to soar by more than 25%.
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Highlights
- First Solar finalized the purchase of Sweden’s Evolar for a deal valued up to $80 million.
- This acquisition is set to fast-track the advancement of cutting-edge solar technologies.
- The announcement triggered a significant rally in First Solar’s stock and positively influenced the broader solar energy market.
On Friday, First Solar (ticker: FSLR) emerged as the top-performing stock in the S&P 500 following its acquisition of Evolar, a Swedish thin-film solar technology company, for an initial payment near $38 million, with potential additional payments up to $42 million contingent on reaching key technical milestones.
The deal is designed to accelerate the development of next-generation photovoltaic (PV) solutions, enhancing the efficiency of solar energy conversion. CEO Mark Widmar emphasized that this move supports First Solar's mission to cut greenhouse gas emissions by improving clean energy generation.
Although detailed terms were not fully disclosed, First Solar confirmed that Evolar’s Uppsala laboratory will remain operational, marking First Solar’s first research and development center in Europe. Approximately 30 Evolar employees will join First Solar, collaborating closely with teams at the company’s advanced research hub in Santa Clara, California, and development units in Perrysburg, Ohio.
Following the acquisition news, First Solar’s shares surged more than 25%, boosting investor confidence across the solar sector.
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