Public and investor-owned utilities and rural electric co-ops
will use advanced thin film technology
First projects introduce concept of community solar to nearly 1
million users
First Solar, Inc. (NASDAQ: FSLR) and Clean Energy Collective,
LLC (CEC) have confirmed the parties have executed a Module Supply
Agreement (MSA) that facilitates CEC’s procurement of First Solar’s
advanced technology modules and other equipment to be used in CEC’s
growing project pipeline in one of the fastest expanding segments
of the solar market. The two leaders in renewable energy
established a strategic partnership late last year to develop and
market community solar offerings to residential customers and
businesses directly on behalf of partner utilities.
The first four projects to utilize the MSA demonstrate the
variety of benefits available to local communities, as well as
versatility in applications of the core technology used for
large-scale community solar generation facilities. The portfolio
also shows how First Solar and CEC can meet the unique needs of
different types of utilities – investor-owned, public power, and
rural electric cooperatives.
A facility serving customers of Black Hills Energy in Pueblo,
Colorado, will allow individuals to own portions of a fixed tilt
array using First Solar modules and equipment, all developed and
administered by CEC. Owners of solar panels will receive direct
credit on their Black Hills Energy electric bill for the power
produced. A portion of the power produced will also be made
available to low-income residents within Black Hills Energy’s
service territory. This project is the first “roofless” community
solar park in Pueblo and the surrounding area.
In another first, a community solar project in San Antonio,
Texas, using First Solar modules mounted on a single-axis tracking
system, developed and administered by CEC, will provide customers
of CPS Energy with the opportunity to own local, clean energy
generation through a CEC-managed program designed to make solar
power more affordable and accessible to residential and commercial
customers.
A project with the non-profit NEC Retail (Nueces Electric
Cooperative) in Corpus Christi, Texas, will bring community shared
solar to south Texas and will be the first large-scale solar garden
in a deregulated market. NEC Retail, as a non-profit rural electric
cooperative, is able to serve any consumers in Texas who have the
ability to choose their electric provider, who can purchase solar
modules in the 800 kW single-axis tracker array to offset their
electric usage charges.
First Solar modules using a special anti-reflective coating
(ARC) will be used at a project for Holy Cross Energy in Rifle,
Colorado, along with balance of system components from other
suppliers. This is the fourth community solar project CEC has
worked on with Holy Cross Energy.
Combined, these four projects introduce the concept of community
solar to nearly 1 million potential residential users, many of whom
would not be able to install solar on their own homes.
“Roofless solar allows the greatest number of consumers to
participate in and enjoy the benefits of locally produced clean
power,” said CEC founder and CEO Paul Spencer. “We are proud to
partner with First Solar in using their industry-leading
technology, which allows us to provide the most competitive pricing
and greatest value to utilities and their customers.”
“The community solar market promises significant growth, and CEC
is clearly well-positioned to lead in this space,” said Eran
Mahrer, Senior Director of Business Development – Utilities for
First Solar. “First Solar’s module supply agreement is a tangible
demonstration of our ongoing commitment to this strategic
partnership.”
About Clean Energy Collective
A solar tech start-up in 2009, Clean Energy Collective (CEC) has
grown to become the world’s leading developer of Roofless Community
Solar solutions. CEC pioneered the model of delivering clean power
generation through medium-scale solar PV facilities accessible to
all utility customers. Since establishing the first community-owned
solar array in the country in 2010 near El Jebel, Colorado, CEC has
built or has under development more than 100 Roofless Community
Solar projects with 25 utility partners across 11 states, serving
thousands of customers, and representing more than 130 MW of
community solar capacity. www.easycleanenergy.com
About First Solar, Inc.
First Solar is a leading global provider of comprehensive
photovoltaic (PV) solar systems which use its advanced module and
system technology. The company’s integrated power plant solutions
deliver an economically attractive alternative to fossil-fuel
electricity generation today. From raw material sourcing through
end-of-life module recycling, First Solar’s renewable energy
systems protect and enhance the environment.
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 statements, among other things, concerning: our business
strategy, including anticipated trends and developments in and
management plans for our business and the markets in which we
operate; future financial results, operating results, revenues,
gross margin, operating expenses, products, projected costs,
warranties, solar module efficiency and balance of systems (BoS)
cost reduction roadmaps, restructuring, product reliability,
investments in unconsolidated affiliates, and capital expenditures;
our ability to continue to reduce the cost per watt of our solar
modules; our ability to reduce the costs to construct photovoltaic
(PV) solar power systems; research and development programs and our
ability to improve the conversion efficiency of our solar modules;
sales and marketing initiatives; and competition. These
forward-looking statements are often characterized by the use of
words such as "estimate," "expect," "anticipate," "project,"
"plan," "intend," "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. 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. 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 in Item 1A: "Risk Factors," of our most recent Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, Current
Reports on Form 8-K and other reports filed with the SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20151013005662/en/
First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.comorb2inc. (Clean
Energy Collective)Tim Braun+1 970-618-0080tbraun@b2inc.net
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