Solarvest Orders 93 MW of First Solar Modules for Malaysian Projects
21 Julho 2022 - 9:00AM
First Solar, Inc. (Nasdaq: FSLR) will supply Solarvest Holdings
Berhad (KLSE: SLVEST), a clean energy specialist and turnkey
engineering, procurement, construction and commissioning (EPCC)
service provider in South-East Asia, with 93 megawatts (MW)DC of
advanced thin film photovoltaic (PV) solar panels.
The modules will power four projects being built
as part of Malaysia’s Large Scale Solar Program (LSS) with
deliveries taking place between August to November, 2022. Solarvest
will use First Solar Series 6 modules for projects located in the
Malaysian states of Selangor, Perak, and Kedah. Approximately 75 MW
of the total order is expected to be sourced from First Solar’s
manufacturing facility in Kulim, Malaysia. Founded in 2012,
Solarvest pioneered grid-connected solar installations in Malaysia
and has deployed around 400 MW across the country.
“We’re thrilled to be using First Solar’s thin
film technology, including solar panels made in Penang, to power
our projects in Malaysia,” said Davis Chong, executive director and
group chief executive officer of Solarvest. “The use of these
advanced solar panels will further accentuate the advantage our
engineering solutions bring in terms of maximizing energy yields.
This combination will no doubt enhance the competitiveness of our
projects.”
He added, "Besides that, this is also part of
our strategy to mitigate concentration risk in relation to our
procurement practices, especially given the uncertainties in the
global supply chain today. The sourcing diversification promotes
greater stability for Solarvest as we continue to scale
up.”
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. The modules have the smallest carbon
footprint, fastest energy payback time, and lowest lifecycle water
footprint in the industry.
“First Solar has a longstanding presence in
Malaysia and we’re proud that our module technology will play a
role in helping the country meet its clean energy goals,” said Adam
Smith, vice president of Global Business Development, First Solar.
“This deal represents our commitment to deploying our
high-performance and eco-efficient module technology at scale in
Malaysia.”
First Solar has had a presence in Malaysia since
2007 and currently operates a 3.3 gigawatt (GW)DC manufacturing
plant in Penang. In addition to its Malaysian manufacturing
facilities, First Solar also operates factories in Vietnam and the
United States, where it is building its third factory. The company
is also building a new 3.3 GW factory in India. 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 in 2024. First Solar is
the only US-headquartered company among the world’s ten largest
solar manufacturers.
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) an order for 93 MWDC
of solar modules for Solarvest Holdings; and (2) First Solar’s
plans to establish new factories in the United States and India,
the expected capacities of those factories; and First Solar’s
resulting 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.
About Solarvest Holdings Berhad
Solarvest is a clean energy specialist with a multi-national
presence across Asia-Pacific. The Malaysia-based company started as
a one-stop solar photovoltaic system solution provider for
residential, commercial & industrial, and utility-scale solar
farms. Today, Solarvest also owns renewable energy generation
plants with a cumulative capacity of over 50MW (on-going and
completed). The company is currently venturing into other clean
energy solutions including, among others, energy efficiency,
low-carbon mobility, and renewable energy certificates.Solarvest is
listed on the Main Market of Bursa Malaysia. For more information,
log on to https://solarvest.my
ContactsFirst
Solar Mediamedia@firstsolar.comSolavest Investor
Relationsir@solarvest.my |
First Solar Investor
Relationsinvestor@firstsolar.com |
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