Origis Energy Builds on Long-Term Alliance with Order for 750 MW of First Solar Modules
11 Abril 2022 - 9:30AM
First Solar, Inc. (Nasdaq: FSLR) today announced that Origis
Energy, one of America’s largest solar and energy storage
developers, has placed an order for 750 megawatts (MW)DC of
responsibly-produced thin film photovoltaic (PV) solar modules. The
deal, which was booked prior to the release of First Solar’s Q4 and
Full Year 2021 earnings in February, utilizes First Solar’s agile
contracting approach and Origis will benefit from any advances in
technology through 2024, when the Cadmium Telluride (CadTel) thin
film modules will be delivered to its projects across the United
States.
First Solar and Origis share a long-standing
relationship spanning five years and over 1.5 gigawatts (GW)DC of
thin film modules. Designed and developed at its research and
development (R&D) centers in California and Ohio, First Solar’s
responsibly produced advanced thin film PV modules set industry
benchmarks for quality, durability, reliability, design, and
environmental performance.
“This 750 MW solar agreement builds on a
long-term alliance between the First Solar and Origis teams,” said
Samir Verstyn, chief investment officer and operations officer,
Origis Energy. “Front and center is always our commitment to meet
customer clean energy goals. This mission has been put to the test
by the unprecedented headwinds impacting the solar industry. Such
an environment makes it even more important to work with market
partners who have consistently delivered. We applaud First Solar’s
build out of its domestic PV solar manufacturing capacity. Today’s
announcement is an important step forward in fulfilling the
renewable energy goals of our utility and corporate customers
across America.”
First Solar is investing $680 million in
expanding America’s domestic PV solar manufacturing capacity by 3.3
GW annually, by building its third US manufacturing facility, in
Lake Township, Ohio. The new facility is expected to be
commissioned in the first half of 2023 and when fully operational
will scale the company’s Northwest Ohio footprint to a total annual
capacity of 6 GW, which is believed to make it the largest fully
vertically integrated solar manufacturing complex outside of China.
First Solar has invested over $2 billion in its US manufacturing
footprint and, when its third factory is fully operational, will
directly employ approximately 2,500 people in Ohio, while
supporting an estimated 7,000 indirect jobs through its American
supply chain.
“At First Solar, we value long-term
relationships with partners like Origis because they are based on
trust and a respect for mutually-held values and principles,” said
Georges Antoun, chief commercial officer, First Solar. “At a time
of unprecedented supply and pricing volatility across the solar
industry, our ability to deliver and stand behind our commitments
is a crucial differentiator that serves to strengthen relationships
like these. We thank the team at Origis for their continued trust
in First Solar and our technology.”
In addition to its Ohio manufacturing
facilities, First Solar also operates factories in Vietnam and
Malaysia, and is building a new 3.3 GW factory in India that is
expected to be commissioned in the second half of 2023. With First
Solar’s expansion in the United States and India and optimization
of its existing fleet, the company anticipates that its nameplate
manufacturing capacity will double to 16 GW by 2024.
About Origis EnergyOrigis
Energy is bringing clean and cost effective solar and energy
storage solutions within reach for utility, commercial and
industrial as well as public sector clients. The Origis team has
worked to ensure the interests of all stakeholders are upheld in
170 projects worldwide totaling more than 4 GW to date of developed
solar and energy storage capacity. Headquartered in Miami, FL,
Origis Energy delivers excellence in solar and energy storage
development, financing, engineering, procurement and construction
(EPC) and operations, maintenance and asset management for
investors and clean energy consumers in the US. Visit us at
www.OrigisEnergy.com, on LinkedIn and on Twitter @OrigisEnergy.
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 InvestorsThis
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) the sale of 750
megawatts (MW)DC of solar modules to Origis Energy; (2) First
Solar’s plans to establish new factories in the United States and
India and the expected capacities of those factories; and (3) when
those factories are expected to be commissioned and First Solar’s
resulting Northwest Ohio and global manufacturing capacity. 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 and our
subsequently filed Quarterly Reports on Form 10-Q, as supplemented
by our other filings with the Securities and Exchange
Commission.
MediaReuven ProençaFirst Solar
Mediareuven.proenca@firstsolar.com |
InvestorsMitchell EnnisFirst
Solar Investor Relationsmitchell.ennis@firstsolar.com |
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Glenna WisemanOrigis
Energyglenna.wiseman@OrigisEnergy.com |
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A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bb28e7af-3b42-45df-9efc-29c12e747ca1
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