What's Going On With First Solar Stock Thursday?

First Solar, Inc. FSLR shares are trading lower on Thursday.

The company inaugurated its new facility in Tamil Nadu, India, the country's first fully vertically integrated solar manufacturing plant. 

The facility has an annual nameplate capacity of 3.3 gigawatts (GW). Representing an investment of approximately $700 million, which includes $500 million in previously announced DFC financing, the facility is First Solar's sixth operational factory and expands the company's global manufacturing footprint to four countries, including the U.S., Malaysia, and Vietnam.

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The unit will directly employ approximately 1,000 people, produce First Solar's Series 7 photovoltaic (PV) solar modules. These modules were developed at the company's research and development centers in the U.S. and optimized for the Indian market.

The company's tellurium-based semiconductor, which allows it to avoid dependence on Chinese crystalline silicon supply chains, is the second most common photovoltaic technology available today.

The factory, which is located in an area of high baseline water stress, is believed to be the world's first net-zero water withdrawal solar manufacturing facility, according to the company.

"Our newest facility doesn't just set standards for our global manufacturing footprint, but for our industry," said Mark Widmar, CEO, First Solar. 

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Price Action: FSLR shares are trading lower by 1.20% to $160.38 on the last check Thursday.