First Solar sells 293 MW solar project in Japan to PAG

First Solar PV modules

First Solar has completed the sale of 293-megawatt (MW) DC solar project development platform in Japan, to funds managed by PAG Real Assets.

As part of the sale, the majority of First Solar project development employees in Japan have joined PAG. PAG is a leading Asia Pacific-focused private investment manager with more than $50 billion in assets under management, First Solar said in a news statement.

PAG had also earlier purchased First Solar’s solar operations and maintenance (O&M) platform with approximately 665 MWDC under management, in Japan. This transaction is expected to close in the second half of 2022.