Lawrence County Solar Project to be constructed in same county
as First Solar’s new US manufacturing facility
The Tennessee Valley Authority (TVA) today announced that it has
secured 279 megawatts (MWDC) of advanced thin film solar panels
from First Solar (NASDAQ: FSLR) for its planned Lawrence County
Solar Project in Lawrence County, Alabama, which is expected to
commence commercial operation in 2027. The project reflects TVA’s
growing emphasis on solar in the region, which, by 2025, is also
expected to become the home of one of the largest fully vertically
integrated solar manufacturing facilities in the United States,
when Arizona-headquartered First Solar commissions its fourth
American factory.
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The Tennessee Valley Authority (TVA)
today announced that it has secured 279 megawatts of advanced thin
film solar panels from First Solar for its planned Lawrence County
Solar Project in Lawrence County, Alabama, which is expected to
commence commercial operation in 2027. (Photo: Business Wire)
“TVA remains committed to investing in the energy system of the
future for the benefit of the people of the Tennessee Valley that
we serve and are pleased to work with First Solar,” said Roger
Waldrep, vice president, TVA Major Projects. “Through our work with
First Solar, TVA will continue to integrate more renewable
generation into our overall portfolio with solar technology
developed and manufactured in America.”
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 being invested in the new 3.5
GWDC Lawrence County facility, 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.
“As America’s Solar Company, we’re pleased that our technology
will power the Lawrence County Solar Project,” said Georges Antoun,
chief commercial officer, First Solar. “As we scale our
manufacturing footprint and supply chains, it is vital that the
communities we operate in benefit from our creation of jobs,
economic value, and clean electricity produced by our solar
technology.”
Designed and developed at its R&D centers in California and
Ohio, First Solar’s advanced thin film photovoltaic (PV) modules
set industry benchmarks for quality, durability, reliability,
design, and environmental performance. The modules have the lowest
carbon and water footprint of any commercially available PV
technology today.
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. First Solar
is the only company among the ten largest solar manufacturers
globally that is 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. The company is also the first PV
manufacturer to have its product included in the Electronic Product
Environmental Assessment Tool (EPEAT) global registry for
sustainable electronics.
About TVA
The Tennessee Valley Authority is the nation’s largest public
power supplier, delivering energy to 10 million people across seven
southeastern states. TVA was established 90 years ago to serve this
region and the nation by developing innovative solutions to solve
complex challenges. TVA’s unique mission focuses on energy,
environmental stewardship, and economic development. With one of
the largest, most diverse, and cleanest energy systems – including
nuclear, hydro, solar, gas, and advanced technologies – TVA is a
leader in our nation’s drive toward a clean energy future.
TVA is a corporate agency of the United States, receiving no
taxpayer funding, deriving virtually all of its revenues from sales
of electricity. In addition to operating and investing its revenues
in its electric system, TVA provides flood control, navigation, and
land management for the Tennessee River system, and assists local
power companies and state and local governments with economic
development and job creation.
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 279 MWDC of solar modules by the Tennessee Valley Authority; 2)
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 3) 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230725007566/en/
Reuven Proença First Solar Media media@firstsolar.com
Robyn Remes First Solar Investor Relations
investor@firstsolar.com
Scott Fiedler TVA Media safiedler@tva.gov
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