21 March 2022

First Solar Warns of Passive Income Investment Scam in South Africa

Submitted by Teresa Settas

March 13, 2022 – First Solar (Nasdaq: FSLR) is warning of a potentially fraudulent investment and recruitment scam doing the rounds in South Africa whereby fraudsters are using the company’s name and logo to convince consumers to invest in ‘solar generator’ projects. According to First Solar’s information, unsuspecting consumers are being solicited to rent solar equipment for a nominal monthly rental and deposit, and then earn an income for every kWh that the solar equipment yields each month.

The US-headquartered and Nasdaq-listed thin-film solar panel manufacturer has warned that it does not solicit investments through passive income schemes. Any such investment or recruitment approaches using the First Solar name, logo or any other marketing materials are fraudulent and consumers should be especially wary of unsolicited investment offers.

First Solar is actively monitoring the situation and considering legal steps, however it’s important to note that no such passive income projects exist in South Africa that have the backing of First Solar, nor does First Solar have a local South African office or employees based in the country.  First Solar is headquartered in Tempe, Arizona, USA, and does not have a permanent presence in South Africa.

First Solar will never solicit personal information via instant messaging platforms, request payments in return for job interviews or solicit participation in income schemes. Official communication from First Solar will always come from emails ending in FIRSTSOLAR.COM and never from a Gmail account, Whatsapp or Facebook Messenger.

If you feel you have been the victim of such a scam you should contact your local law enforcement authorities.

About First Solar, Inc.
First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit http://www.firstsolar.com.