First Solar agrees to sell $645 million of 2024 tax credits to Visa for $616 million
On December 6, 2024, First Solar signed two Tax Credit Transfer Agreements with Visa Inc. under which it agreed to sell up to $870 million of 2024 advanced manufacturing production tax credits. The fixed agreement covers $645 million for a purchase price of $615,975,000, with $400 million paid on December 6, 2024 and the balance due December 30, 2024. The variable agreement covers up to $225 million more at $0.955 per $1.00 of credits, payable February 28, 2025, and shareholders will not know the final amount until First Solar determines it later.
Key points
- Fixed agreement: $645 million of Section 45X tax credits for a purchase price of $615,975,000.
- Payments: $400 million received December 6, 2024; $215,975,000 due December 30, 2024.
- Variable agreement: up to $225 million more in credits at $0.955 per $1.00, due February 28, 2025; final amount to be set later.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 11, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.