Exhibit 10.2 FIRST DEMAND GUARANTY DATED AS OF 3 August, 2011 by FIRST SOLAR, INC. GUARANTY

Guaranty

Waiver

Guaranty Absolute

The Guarantor guarantees that, to the fullest extent permitted by law, the Guaranteed Obligations will be paid or performed strictly in accordance with their terms, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of any Agent or Lender with respect thereto.

No invalidity, irregularity, voidability, voidness or unenforceability of the Facility Agreement or any other Finance Document or any other agreement or instrument relating thereto, or of all or any part of the Guaranteed Obligations or of any security therefor shall affect, impair or be a defense to this Guaranty.

This Guaranty is one of payment and performance, not collection, and the obligations of the Guarantor

Until the indefeasible payment in full of the Guaranteed Obligations, the liability of the Guarantor under this Guaranty shall be absolute and unconditional irrespective of:

any change in the manner, place or terms of payment or performance, and/or any change or extension of the time of payment or performance of, renewal or alteration of, any Guaranteed Obligation, any security therefor, or any liability incurred directly or indirectly in respect thereof, or any other amendment or waiver of or any consent to departure from the Facility Agreement or any other Finance Document, including any increase in the Guaranteed Obligations resulting from the extension of additional credit to the Borrower or any of its subsidiaries or otherwise;

any sale, exchange, release, surrender, realization upon any property by whomsoever at any time pledged or mortgaged to secure, or howsoever securing, all or any of the Guaranteed Obligations, and/or any offset thereagainst, or failure to perfect, or continue the perfection of, any lien in any such property, or delay in the perfection of any such lien, or any amendment or waiver of or consent to departure from any other guaranty for all or any of the Guaranteed Obligations;

any exercise or failure to exercise any rights against the Borrower or others (including the Guarantor);

any settlement or compromise (in each case, other than the indefeasible payment in full of all of the Guaranteed Obligations) of any Guaranteed Obligation, any security therefor or any liability (including any of those hereunder) incurred directly or indirectly in respect thereof or hereof, and any subordination of the payment of all or any part thereof to the payment of any Guaranteed Obligation (whether due or not) of the Borrower to creditors of the Borrower other than the Guarantor;

any manner of application of any collateral securing the Guaranteed Obligations, or proceeds thereof, to all or any of the Guaranteed Obligations, or any manner of sale or other disposition of any such collateral or any other assets of the Borrower or any of its subsidiaries;

any change, restructuring or termination of the existence of the Borrower or any of its subsidiaries; or

any other agreements or circumstance of any nature whatsoever which might otherwise constitute a defense available to, or a discharge of, this Guaranty and/or obligations of the Guarantor hereunder, or a defense to, or discharge of, the Borrower or any other person or party relating to this Guaranty or the obligations of the Guarantor hereunder or otherwise with respect to the Loans or other financial accommodations to the Borrower.

Any Agent may at any time and from time to time (whether or not after revocation or termination of this Guaranty) without the consent of, or notice (except as shall be required by applicable statute and cannot be waived) to, the Guarantor, and without incurring responsibility to the Guarantor or impairing or releasing the obligations of the Guarantor hereunder, apply any sums by whomsoever paid or howsoever realized to any Guaranteed Obligation regardless of what Guaranteed Obligations remain unpaid.

This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time payment,

Continuing Guaranty

Representations, Warranties and Covenants

The Guarantor hereby represents and warrants, as of the date hereof, to and with the Lenders and the Agents that:

The Guarantor has the corporate power to execute and deliver this Guaranty and to incur and perform its obligations hereunder;

The Guarantor has duly taken all necessary corporate action to authorize the execution, delivery and performance of this Guaranty and to incur and perform its obligations hereunder;

No consent, approval, authorization or other action by, and no notice to or of, or declaration or filing with, any governmental or other public body, or any other person, is required for the due authorization, execution, delivery and performance by the Guarantor of this Guaranty or the consummation of the transactions contemplated hereby;

The execution, delivery and performance by the Guarantor of this Guaranty do not and will not violate or otherwise conflict with any term or provision of any material agreement, instrument, judgment, decree, order or any statute, rule or governmental regulation applicable to the Guarantor or result in the creation of any lien upon any of its properties or assets pursuant thereto, in each case in a manner which could reasonably be expected to have a material adverse effect on the Guarantor;

This Guaranty is enforceable against the Guarantor in accordance with its terms, except as enforcement thereof may be subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally, and general principles of equity (regardless of whether such enforcement is sought in a proceeding in equity or at law);

No proceeding referred to in Section 21.1(d) of the Facility Agreement is pending against the Guarantor and no other event referred to in Section 21.1 of the Facility Agreement has occurred and is continuing; and

The capital stock of the Borrower directly or indirectly owned by the Guarantor on the date hereof consists of 330,000,002 shares of common stock, with par value 1 MYR (Malaysian ringgit) per share, constituting 100% of the authorized, issued and outstanding capital stock of the Borrower on the date hereof.

The Guarantor hereby undertakes:

To (x) own of record or beneficially, directly or indirectly, more than 50% of the issued share capital of the Borrower and (y) maintain direct or indirect control over the Borrower, including,

Not to create or permit to subsist any mortgage, pledge, security interest, conditional sale or other title retention document, charge, encumbrance, or other lien (whether such interest is based on common law, statute, other law or contract) upon any shares in the Borrower.

Expenses

Terms

All terms defined in the Uniform Commercial Code of the State of New York (the “UCC”) and used herein shall have the meanings as defined in the UCC, unless the context otherwise requires.

The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.

All references herein to sections and subsections shall be deemed to be references to sections and subsections of this Guaranty unless the context shall otherwise require.

Amendments and Modification

Subrogation Rights

In addition to all such rights of indemnity and subrogation as the Guarantor may have under applicable law (but subject to Section 9(b)), the Borrower agrees that in the event a payment shall be made by the Guarantor under this Guaranty, the Borrower shall indemnify the Guarantor for the full amount of such payment and the Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment.

The Guarantor hereby agrees that all rights and claims of subrogation, indemnification, contribution and reimbursement from the Borrower and its property, regardless of whether such rights arise in connection with this Guaranty, by operation of law or pursuant to Section 9(a), it may now or hereafter have or acquire against the Borrower that would constitute it a “creditor” of the Borrower for purposes of the United States Federal Bankruptcy Code, shall be fully subordinated to the payment in full of the Guaranteed Obligations.

Remedies Upon Default; Right of Set-Off

In furtherance of the foregoing, upon the occurrence and during the continuance of any Event of Default, the Facility Agent may, without notice to or demand upon the Borrower, declare the amount of the unpaid Guaranteed Obligations immediately due and payable, and shall be entitled to enforce the obligations of the Guarantor hereunder.

Upon such declaration by the Facility Agent, any Agent or Lender are hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by such Agent or Lender to or for the credit or the account of the Guarantor against any and all of the obligations of the Guarantor now or hereafter existing under this Guaranty, whether or not such Agent or Lender shall have made any demand under this Guaranty; provided that at such time such obligations are due or payable. The Facility Agent agrees promptly to notify the Guarantor after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application. The rights of each Agent and Lender under this Section 10 are in addition to other rights and remedies (including other rights of set-off) which such Agents and Lenders may have.

Statute of Limitations

Rights and Remedies Not Waived

Admissibility of Guaranty

Notices

Counterparts

USA Patriot Act

CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL; ETC.

Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America, sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Guaranty, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

Each of the parties hereto hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Guaranty in any court referred to in paragraph (a) of this Section 17. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

Nothing herein shall affect the right of any party hereto to serve process in any manner permitted by law.

EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY. EACH PARTY HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 17(D).

GOVERNING LAW

Captions; Severability

The captions of the sections and subsections of this Guaranty have been inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Guaranty.

If any term of this Guaranty shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way be affected thereby.

Acknowledgment of Receipt