Salvador del Solar, abogado, actor y director de cine y exministro de Cultura de Perú, ha vuelto al poder Ejecutivo del país sudamericano tras 14 meses. Y lo hace por todo lo alto: será primer ministro en el Gobierno de Martín Vizcarra. Del Solar reemplaza como presidente del Consejo de Ministros a un político experimentado, César Villanueva, el operador de la salida del ex presidente Pedro Pablo Kuczynski —entre enero y marzo de 2018— pero que como cabeza del gabinete de Vizcarra fue poco visible al desempeñar con dificultad e intermitencia la función de ser el principal vocero del Ejecutivo.

Solar, de 48 años, tiene fama de político dialogante y locuaz, comprometido en la lucha contra la discriminación y favorable al modelo económico que promueve las asociaciones público-privadas. El nuevo primer ministro había renunciado, a finales de diciembre de 2017, al formar parte del Gobierno del entonces presidente Kuczynski. Tras graduarse en Derecho, el nuevo jefe del gabinete peruano estudió una maestría en Relaciones Internacionales en la Universidad de Syracuse (Nueva York, EE UU), una entidad de la que han egresado varios destacados tecnócratas peruanos.

Durante el año que estuvo al frente de la cartera de Cultura, Solar participó en una gran cantidad de eventos públicos que incrementaron su presencia e hicieron patente su voluntad de no colisionar con la oposición fujimorista del partido Fuerza Popular, e incluso buscar aproximaciones con la formación de corte derechista. También despidió al entonces director del Lugar de la Memoria, el historiador Guillermo Nugent, por haber autorizado la exposición Resistencia visual 1992, una muestra de serigrafías que contenían críticas a la política de esterilizaciones forzadas y los crímenes del Grupo Colina del Gobierno del autócrata Alberto Fujimori. Colina fue un destacamento del Ejército peruano creado en 1991, poco antes del autogolpe de Fujimori del 5 de abril de 1992, cuando el régimen inició su deriva autoritaria.

El nuevo primer ministro peruano cobró gran notoriedad en Perú entre 2015 y 2016 como director del filme Magallanes, una historia sobre las dificultades del posconflicto en Perú en la que la protagonista, una mujer quechua-hablante que fue violada por militares del Ejército, se enfrenta en el presente a un pasado que hubiera preferido borrar.

En la campaña electoral previa a la segunda vuelta de 2016, el actor y cineasta se pronunció en contra de la candidata Keiko Fujimori, por ello en diciembre de 2017, después de que Kuczynski concediese un indulto humanitario de manera irregular a Alberto Fujimori, llamó la atención el silencio del entonces ministro de Cultura. Solar presentó su dimisión un par de días después de la gracia presidencial a Fujimori y en medio de protestas de los ciudadanos en redes sociales.

“Es inteligente y creativo. Tiene carisma. Pero -como siempre cuando se trata de la élite política peruana- tiene una orientación bastante tecnocrática”, ha descrito a Solar El profesor estadounidense e investigador de ciencia política en Harvard Steve Levitsky. El autor de Cómo mueren las democracias conoció a Solar el año pasado en Harvard, mientras este desarrollaba en el Centro Rockefeller un proyecto de investigación y de producción de documental sobre informalidad y política en el Perú contemporáneo.

El presidente del Congreso, Daniel Salaverry, antiguo militante del Partido Aprista y con licencia en el partido fujimorista Fuerza Popular, no quiso responder claramente su opinión acerca del nuevo ministro, pero comentó en la emisora Radioprogramas que espera “un Gabinete que dé soluciones a los problemas serios que tiene el país, como las condiciones de los colegios y los servicios de salud”.

Solar, un corredor disciplinado, aparca por tercer año su actividad en el cine y la televisión. La prensa peruana ha recordado este lunes las conocidas aspiraciones presidenciales del nuevo primer ministro y el escenario político en el que deberá actuar. El presidente Vizcarra no tiene una bancada significativa en el Congreso, y la que fue la mayoría absoluta en el Parlamento, ahora se ha repartido en pequeños grupúsculos. Por otro lado, las investigaciones fiscales por corrupción —ligada a la constructora brasileña Odebrecht— a casi todos los expresidentes y excandidatos presidenciales impregnan de nerviosismo a la política de Perú.

Más mujeres en el Ejecutivo

Además de Del Solar, en el Gobierno peruano entran Gloria Montenegro, como ministra de la Mujer y Poblaciones Vulnerables; Flor Pablo, en Educación; Rocio Barrios, en el sector Producción; la arqueóloga Ulla Holmquist, en Cultura; y Fabiola Muñoz quien pasó del ministerio del Ambiente a Agricultura. Tambien Carlos Bruce, como nuevo ministro de Vivienda —quien desempeñó el mismo cargo durante el Gobierno de Alejandro Toledo—; Lucía Ruiz a cargo de Ambiente; y Paola Bustamante en el Ministerio de Inclusión y Desarrollo Social. Se mantienen los titulares de Economía, Relaciones Exteriores, Defensa, Interior, Justicia, Salud, Energía y Minas, Trabajo Transportes y Comunicaciones, y Comercio y Turismo.</s>LIMA (Reuters) - Peruvian President Martin Vizcarra will name actor and former culture minister Salvador del Solar as his new prime minister on Monday, three sources said.

Salvador del Solar, who was culture minister under disgraced former president Pedro Pablo Kuczynski for about a year, will be sworn in later on Monday, the sources said. The sources asked not to be named because an announcement had not yet been made.</s>LIMA (Reuters) - Peruvian President Martin Vizcarra will name actor and former culture minister Salvador del Solar as his new prime minister on Monday, three sources said.

Vizcarra has been looking to shake up his government after his approval rating started to slip in recent weeks.

A trained lawyer, del Solar is best known for his roles in Spanish-language films. He served as culture minister for about a year under former president Pedro Pablo Kuczynski, who resigned in a graft scandal a year ago.

Vizcarra will swear in del Solar and other new cabinet ministers later on Monday, said the sources, who asked not be named because an announcement had not been made.

Local media reported earlier on Monday that Vizcarra had chosen del Solar as his new prime minister.

Vizcarra’s spokeswoman did not immediately respond to requests for comment.

Del Solar could not immediately be reached for comment.</s>Peruvian President Martin Vizcarra has sworn in actor and former Culture Minister Salvador del Solar as his new prime minister in a cabinet reshuffle aimed at shoring up his slipping approval ratings.

The move on Monday comes days after former Prime Minister Cesar Villanueva stepped down amid calls for a government shakeup.

Vizcarra chose to keep Finance Minister Carlos Oliva and Energy and Mines Minister Francisco Ismodes in their posts but changed eight other ministers, including the production and agriculture ministers.

Del Solar, 48, has degrees in law and international relations but is best known for his roles in Spanish-language films and television series, including a turn as a priest in Netflix's drugs drama, Narcos.

He served as Peru's culture minister for about a year under former-President Pedro Pablo Kuczynski, who resigned last March amid a region-wide corruption scandal.

Vizcarra, a former vice president, was sworn in as president shortly after.

Peruvian presidents often reshuffle their cabinets when approval ratings fall, though all recent presidents have ended their terms widely unpopular.

Vizcarra's approval rating rose to a high of 66 percent in January after he confronted the opposition-controlled Congress to push for anti-corruption measures, which had passed easily in a national referendum in December.

Corruption is seen as rife in Peru, where the last five former presidents have either been jailed on corruption charges or are currently under investigation for fraud.

Opposition leader Keiko Fujimori is also embroiled in an ongoing corruption investigation.

In February, Vizcarra faced criticism for travelling to Spain and Portugal on a state visit instead of visiting regions affected by flooding and landslides.

His approval rating dropped to 56 percent in March.

Despite bouts of political turmoil, Peru has been one of Latin America's most stable and fastest-growing economies this century.</s>LIMA (Reuters) - Peruvian President Martin Vizcarra swore in actor and former Culture Minister Salvador del Solar as his new prime minister on Monday in a cabinet shuffle that may help shore up his slipping approval ratings.

Vizcarra opted to keep Finance Minister Carlos Oliva and Energy and Mines Minister Francisco Ismodes in their posts, but changed eight other ministers, including the production and agriculture ministers.

No major policy changes were expected under del Solar, who has degrees in law and international relations but is best known for his starring roles in Spanish-language films.

Del Solar, 48, served as culture minister for about a year under former President Pedro Pablo Kuczynski, who resigned in a graft scandal a year ago.

Vizcarra, Kuczynski’s former vice president, took office to replace Kuczynski and won broad support for pushing measures aimed at fighting corruption and taking a tougher stance with the opposition-controlled Congress.

But Vizcarra’s approval rating fell seven percentage points to 56 percent this month, according to a Datum Internacional poll last week, after reaching a high of 66 percent in January.

Presidents in Peru often reshuffle their cabinets when their approval ratings fall, though all recent presidents have ended their terms widely unpopular.

Despite occasional bouts of political turmoil, Peru has been one of Latin America’s most stable and fastest-growing economies this century.</s>First Solar (NASDAQ:FSLR) produces photovoltaic (PV) solar energy solutions on a global basis. The company operates under two segments: Components and Systems. The Component segment handles designing, manufacturing, and sales of cadmium telluride solar modules that convert sunlight into electricity.

The Systems segment provides solar power system solutions including: project development, engineering, construction, and operating/maintenance services to power producers, utilities, and commercial/industrial companies.

First Solar faced challenges over the past decade. However, the company has better growth prospects going forward. About 64% of Millennials polled by Deloitte stated that they are interested in installing solar panels. The Millennials are currently the largest living generation in the U.S. Therefore, this generation is likely to drive strong growth for First Solar as the industry gains growth momentum over the next five years.
• None First Solar is the largest producer of thin film semiconductor cells for use in solar systems in the world. As of September 30, 2018, the company's total installed annual production capacity across all of its facilities was 5.2 gigawatts (GW). That is the equivalent in power to 16.25 million PV panels or 2,241 utility-scale wind turbines or 6.76 million horses. It could also power 4 of Marty McFly's and Doc Brown's DeLoreans to travel "Back to the Future" (their time machine needed 1.2 GW of electricity).
• None Experienced company for achieving success in new markets. This will help First Solar continue its expansion on a global basis. The company plans on expanding production capacity by 46% to 7.6 GW by 2020.
• None Solid track record of innovating by developing new products. One example of this is First Solar's Series 6 PV modules, which have up to an 8% higher energy yield and a lower levelized cost of electricity (LCOE) as compared to competing technologies.
• None Highly skilled workforce as a result of investments in training and development.
• None Strong supply chain, which includes reliable raw material suppliers. First Solar is also vertically integrated across the solar value chain.
• None Strong balance sheet: 5.8x more total cash than total debt; current ratio of 4.5. This gives the company flexibility to expand.
• None First Solar has been running with negative operating cash flow for the past two quarters. The company also has high CapEx, leading to negative free cash flow.
• None The company has low profitability ratios: ROE of 2.8%, ROA of 3.06%, and ROIC of 1.67%.
• None Low EBITDA margin of 9.36%, and operating margin of 1.79%.
• None Note: These metrics have been improving and can continue to improve if First Solar gains operational efficiencies and gets better returns for its R&D spending and other investments.
• None First Solar can capitalize on the growing interest in solar installations by the Millennial generation. The company can market to this generation for its residential business.
• None First Solar can look for opportunities to improve its technology for various products. Continuous innovation can be employed to get higher energy yields from its PV modules and greater efficiencies from battery technology.
• None Expand into emerging markets: First Solar has the potential to get solar fields built in growing economies on the utility/industrial scale.
• None Keep an eye out for strategic mergers/acquisitions. There is an opportunity for M&A within the next five years for other innovative companies that could help First Solar grow over the long-term.
• None Capitalize on any new energy/environmental policies. Worries about climate change make the likelihood of new policies being made on a global basis that favor renewable energy sources such as solar. Therefore, First Solar can jump on this as it unfolds.
• None FSLR faces high competition from SunPower (SPWR), Canadian Solar (CSIQ), Trina Solar, SolarCity (TSLA), SunEdison (OTCPK:SUNEQ), Yingli Green Energy (YGE), JA Solar, Sungevity, and Vivint Solar (VSLR). The competition could lead to price wars, which could lower the price of PV modules and solar systems. The lower prices could reduce the revenue for First Solar.
• None First Solar is subject to an oversupply of PV modules in the market. This could lower prices for the company's products and reduce revenue.
• None Tariffs could reduce demand for First Solar's products.
• None The demand for the company's products could change based on government subsidies for renewable installations. Reduced subsidies would have a negative effect on revenue.
• None Subject to seasonal demand for its most profitable products.
• None Increased cost of raw materials would reduce margins and lower profitability.
• None First Solar is subject to currency fluctuations as a result of its global operations.
• None The stock can correlate to the price of oil, which creates additional price volatility.

Overall, First Solar has an abundance of strengths and opportunities for strong growth potential over the next three to five years. The largest living generation, the Millennials, has shown strong interest in solar technology. The perceived threat of climate change creates more demand for solar installations as the world looks for ways to have more sustainable energy solutions. This will help the company grow as its technology is increasingly embraced.

First Solar is highly cyclical and could experience downturns more frequently than the broader economy due to the potential for an oversupply of PV modules in the market. Due to this cyclicality, the stock can lose more than half of its value in less than one year. The company does face a lot of external threats. As a result, the stock can be more volatile than average and should be viewed as riskier than average.

I contribute to Kirk Spano's Margin of Safety Investing where we offer a more in-depth analysis of individual companies. Try Margin of Safety Investing free for two weeks and get your first year for 20% off. Learn our 4-step investment process that top hedge funds use. Invest with us in a changing world that demands a margin of safety.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Business relationship disclosure: The article was written by David Zanoni with guidance from Kirk Spano.

Additional disclosure: The article is for informational purposes only (not a solicitation to buy or sell stocks). David is not a registered investment adviser. Kirk Spano is an RIA. Investors should do their own research or consult a financial adviser to determine what investments are appropriate for their individual situation. This article expresses my opinions and I cannot guarantee that the information/results will be accurate. Investing in stocks involves risk and could result in losses.</s>
• Nara Solar will specialise in the development of small to utility scale early-stage photovoltaic solar energy projects
• Headquartered in Madrid, the platform will operate across Europe to develop an initial pipeline of over 700MW across Spain, France and the Netherlands

Nara Solar will initially develop Univergy International's existing European portfolio of over 35 projects, totalling more than 700MW. Headquartered in Madrid, and operating from four offices in Spain, the Spanish market will be a central focus for Nara Solar where it will look to triple the capacity of its current Spanish portfolio over the next year.

The European market offers significant opportunities for solar development. Over 93GW of new solar energy capacity is anticipated to be installed across Europe between 2018 -2022, with over 8GW in Spain, representing an annual Spanish growth rate of 21%. Solar power is now one of the cheapest forms of renewable energy across Europe and 2018 saw the delivery of the first subsidy-free PPA backed solar projects delivered in Spain [3].

Yago Acon, CEO of Nara Solar, said: 'The European solar market is gearing up a period of significant growth, particularly in Spain where falling costs have stimulated a reawakening of the industry. It's an exciting time to be creating a new solar development platform that will generate new investment opportunities and help stimulate the growth of solar energy across Europe.'

[1]Green Investment Group Limited (GIG) is a specialist in green infrastructure project development and principal investment. Its track record, expertise and capability make it a global leader in green investment, dedicated to supporting the growth of the global green economy. As part of the Macquarie Group, it is one of the world's largest teams of specialist green investors.

[2] Univergy International is a renewable energy development company specialising in the development, construction and operation of photovoltaic solar energy projects. Based in Tokyo and Madrid, the group is active in almost every continent through its global project portfolio of over 2.6GW
Actor and former Minister of Culture Salvador del Solar is appointed new Prime Minister of Peru.