Responsibly produced ultra-low carbon thin film
modules to power US projects, with deliveries in 2026 and 2027
First Solar, Inc. (NASDAQ: FSLR) today announced an agreement to
supply 2 gigawatts (GW)DC of advanced, responsibly produced thin
film photovoltaic solar modules to Leeward Renewable Energy
(“LRE”). The deal is expected to see First Solar deliver the
modules in 2026 and 2027.
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First Solar, Inc. today announced an
agreement to supply 2 gigawatts (GW)DC of advanced, responsibly
produced thin film photovoltaic solar modules to Leeward Renewable
Energy. The deal is expected to see First Solar deliver the modules
in 2026 and 2027. (Photo: Business Wire)
This agreement builds on LRE’s existing relationship with First
Solar as a major buyer and operator of the company’s solar
technology. This latest agreement is expected to take LRE’s total
fleet of First Solar modules to almost 6 GWDC by 2028.
“We look forward to expanding our long-standing partnership with
First Solar, which is consistent with our high-growth strategy as
we continue to expand our renewable energy portfolio in the U.S.,
prioritizing sustainable and responsible development,” said Jason
Allen, chief executive officer, LRE. “Through this partnership,
LRE’s solar portfolio champions U.S. manufacturing, fortifying the
U.S. solar module supply chain and supporting the creation of new
American jobs.”
Designed and developed at its R&D centers in California and
Ohio, First Solar’s advanced thin film 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.
“We are pleased that Leeward Renewable Energy has expanded on
its commitment, not just to First Solar but to responsibly produced
solar technology developed here in the United States,” said Georges
Antoun, chief commercial officer, First Solar. “In partnering with
First Solar, LRE is part of a group of sophisticated solar project
developers that have recognized the value of strategic procurement,
which optimizes the competitiveness of solar projects, while
minimizing pricing, supply, and compliance risk.”
First Solar is expanding its US manufacturing footprint, which
currently stands at approximately 6 GW of annual nameplate capacity
with three operating factories in Ohio. The company is expected to
reach more than 10 GW of annual nameplate capacity in the US by
2025, when it is scheduled to complete its new $1.1 billion factory
in Alabama and a $185 million expansion of its existing capacity in
Ohio. First Solar is also investing up to $370 million in a new
research and development innovation center in Ohio.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy (LRE) is a leading renewable energy
company that owns and operates a portfolio of 25 renewable energy
facilities across nine states totaling approximately 2,700
megawatts of generating capacity. LRE is actively developing and
contracting new wind, solar, and energy storage projects in energy
markets across the U.S., with 1.9 gigawatts contracted and 20
gigawatts under development and construction, spanning over 100
projects. LRE is committed to providing long-term, sustainable
energy solutions across all its projects that benefit its community
partners while protecting and enhancing the environment. LRE is a
portfolio company of OMERS Infrastructure, an investment arm of
OMERS, one of Canada’s largest defined benefit pension plans with
C$124.2 billion in net assets (as at December 31, 2022). For more
information, visit www.leewardenergy.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 2 GWDC of solar modules by Leeward Renewable Energy; 2)
Leeward’s total fleet of First Solar modules of almost 6 GWDC by
2028; 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 up to
$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 GW by 2025. 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/20230427005740/en/
Media Reuven Proença
First Solar Media media@firstsolar.com
Kelly Kimberly/Liz James/Ryan McDougald FGS Global for
Leeward Renewable Energy lre@fgsglobal.com
Investors Robyn Remes
First Solar Investor Relations investor@firstsolar.com
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