Early Solar Stocks Soar After Energix Renewables Deal

Key takeaways

First Solar has agreed to supply solar modules to Israeli renewable energy company Energix Renewables.
The modules are expected to be delivered from 2026 to 2030.
Shares of First Solar rose more than 8% in intraday trading on the Monday following the news. Shares of other solar energy companies also rose.

First Solar (FSLR) was the best performing S&P 500 stock in intraday trading on Monday after the solar panel maker signed a deal to supply power modules to Israeli renewable energy company Energix Renewables. .

First Solar has announced that it will deliver its “ultra-low-carbon thin-film solar modules,” providing five gigawatts (GWDC) of electricity to Energix between 2026 and 2030. They will be used for projects in the United States, Israel, and Poland.

Energix CEO Asa (Asi) Levinger said the deal was the company's largest ever and “strongly reflects the long-term strategic partnership we share with First Solar. “. He added that this “is a 'significant step' in Energix's growth plans, “as we rapidly expand our global pipeline, with a focus on the United States.”

Georges Antoun, Chief Commercial Officer of First Solar, said the Energix investment is “another example of a large and sophisticated player choosing to de-risk its development portfolio by working with us”.

Companies do not; have not provided transaction details.