- Modules to be delivered between 2026 and 2030 for projects in
Israel, Poland, and US
- Built on existing orders, deal will see Energix operate over
7-9 GW of First Solar technology by 2030
First Solar, Inc. (NASDAQ: FSLR) today announced that Energix
Renewables has agreed to procure 51 gigawatts (GWDC) of its
responsibly produced, ultra-low carbon thin film solar modules. The
modules, which will power Energix projects in Israel, Poland, and
the United States, will be delivered between 2026 and 2030.
Energix, one of Israel’s largest renewable energy companies with a
portfolio of more than 7 GW of projects under development in
Israel, Poland and the United States, has also contracted First
Solar Recycling Services to manage end-of-life handling of
decommissioned modules. Prior to this deal, the company has placed
over 3.5 GWDC of orders for First Solar technology since 2017.
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First Solar today announced that Energix
Renewables has agreed to procure 5 gigawatts (GWDC) of its
responsibly produced, ultra-low carbon thin film solar modules. The
modules, which will power Energix projects in Israel, Poland, and
the United States, will be delivered between 2026 and 2030. (Photo:
Business Wire)
“As we grow our pipeline, we want a trusted partner that will
not compromise on quality, its commitments, or principles, and that
partner is First Solar,” said Asa (Asi) Levinger, chief executive
officer, Energix. “This deal, our largest ever, strongly reflects
the long-term strategic partnership we share with First Solar. It
also constitutes a significant milestone for Energix's long-term
growth, as we rapidly expand our global pipeline, with an emphasis
on the United States. With shared goals and a united vision for a
sustainable energy future, this deal perfectly suits our needs,
paving the way for groundbreaking achievements and reinforcing our
commitment to our stakeholders.”
“This deal demonstrates once again the substantial place Energix
takes as one of our biggest client worldwide, and we feel honorable
to take active part in Energix’s significant growth, especially in
the United States. We are pleased that Energix will power its asset
portfolio with First Solar’s module technology,” said Georges
Antoun, chief commercial officer, First Solar. “This is another
example of a large, sophisticated player choosing to de-risk its
development portfolio by working with us. They recognize that they
do not simply get a high-quality, high-performance,
responsibly-produced PV module, but a trusted partner and long-term
pricing and supply certainty, which are rarities in the solar
industry.”
First Solar’s responsibly produced,
advanced thin film photovoltaic (PV) modules set industry
benchmarks for quality, durability, reliability, design, and
environmental performance. The company’s solar modules have the
lowest carbon and water footprint of any commercially available PV
module today, and it’s the first PV manufacturer to have its
product included in the Electronic Product Environmental Assessment
Tool (EPEAT) global registry for sustainable electronics.
End-of-life modules from Energix projects will be processed by
First Solar’s pioneering high value recycling program, which
provides closed-loop semiconductor recovery for use in new modules,
while also recovering other materials including aluminum, glass,
and laminates.
First Solar’s differentiated thin film semiconductor, integrated
manufacturing process and tightly controlled supply chain helps
eliminate the risk of exposure to solar supply chains identified by
the US Department of Labor’s 2022 List of Goods Produced by Child
Labor or Forced Labor as being tainted by forced labor. The company
is the only one of the world’s ten largest solar manufacturers to
be a member of the Responsible Business Alliance (RBA), the world’s
largest industry coalition dedicated to supporting the rights and
well-being of workers and communities in the global supply chain,
and the company has zero tolerance for forced labor in its
manufacturing or its supply chains.
First Solar is investing approximately $1.3 billion in expanding
its US manufacturing footprint from over 6.5 gigawatts (GWDC) of
annual nameplate capacity currently, to approximately 10.9 GWDC by
2026. In addition to the $1.1 billion expected investment in a new
3.5 GWDC facility in Alabama, the company has also embarked on a
$185 million expansion of its existing manufacturing footprint in
Ohio. First Solar, the largest solar manufacturer in the Western
Hemisphere, also announced an investment of up to $370 million for
a dedicated research and development (R&D) innovation center in
Perrysburg, Ohio, which is expected to be completed in 2024.
About Energix Renewables
Energix Renewable Energy Ltd. (TASE: ENRG) is a well-known and
reputable global renewable energy company with operations in the
United States, Poland, and Israel. Energix specializes in the
development, construction, and operation of renewable energy
generation projects with a focus on solar energy, wind power, and
energy storage. As of May 2023, Energix has an aggregate portfolio
of renewable energy projects of more than 8.5GW MW and 7GW storage,
over 867MW of operational projects worldwide and 850 projects under
or near construction. Energix is expanding rapidly and constantly
developing new projects with various financial, operational, and
local partners. Energix leverage the latest advancements in solar
panel technology, wind turbine design, and energy storage systems
to maximize energy production and optimize the overall efficiency
of its projects. Energix focuses on the development of clean energy
solutions to contribute to the transition towards a more
sustainable and low-carbon future. For more information, please
visit www.energix-group.com.
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 www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements, which are made
pursuant to safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to statements concerning 1) an order
for 5 GWDC of solar modules by Energix Renewables; 2) the
expectation that the modules will be delivered between 2026 and
2030; 3) First Solar’s plan to invest approximately $1.1 billion in
building a fourth factory in Alabama, $185 million on expanding the
capacity of its existing manufacturing footprint in Ohio, and $370
million in a new R&D innovation center in Ohio; and 4) First
Solar’s expectation that its annual US nameplate manufacturing
capacity will expand to 10.6 GW by 2026. These forward-looking
statements are often characterized by the use of words such as
“estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,”
“seek,” “believe,” “forecast,” “foresee,” “likely,” “may,”
“should,” “goal,” “target,” “might,” “will,” “could,” “predict,”
“continue” and the negative or plural of these words and other
comparable terminology. Forward-looking statements are only
predictions based on our current expectations and our projections
about future events and therefore speak only as of the date of this
release. You should not place undue reliance on these
forward-looking statements. We undertake no obligation to update
any of these forward-looking statements for any reason, whether as
a result of new information, future developments or otherwise.
These forward-looking statements involve known and unknown risks,
uncertainties, and other factors that may cause our actual results,
levels of activity, performance, or achievements to differ
materially from those expressed or implied by these statements.
These factors include, but are not limited to, the matters
discussed under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” of our most recent Annual Report on Form 10-K, as
supplemented by our other filings with the Securities and Exchange
Commission.
1 Under the terms of the agreement, (1) Energix will take
delivery of modules on an Free Carrier (FCA) basis from a location
near the relevant First Solar factories, and (2) Energix has the
right to increase or decrease the total volume to be procured under
the agreement by 200 MWDC each year during the 5-year term (with
any such increase subject to module availability).
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