First Solar sells up to $775M of 45X tax credits to digital payments firm for 95.5% value

FIRST SOLAR, INC.

Fixed agreement: sells $600M of 2025 Section 45X credits for $573M (0.955/$1), payable Oct 31 and Dec 29, 2025.
Variable agreement: sells up to $175M additional credits at same 0.955 rate, final amount set later, due Feb 27, 2026.
Counterparty is a leading digital payments company; agreements contain customary covenants and indemnification.
Transaction provides near-term cash inflow of at least $573M from monetizing manufacturing tax credits.

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