First Solar Connects Luz del Norte to Chilean Central Grid
October 28 2015 - 1:56PM
Business Wire
Company is expanding presence in Chile, pursuing
partnerships
The first two blocks of First Solar, Inc.’s (NASDAQ: FSLR) Luz
del Norte solar project have been connected to the Chilean central
grid, the company announced today. The interconnect includes
approximately half of the project’s total 141 megawatt (MW)
capacity.
“This exciting milestone is proof of how utility-scale solar is
a viable energy alternative for Chile right now,” said Cristian
Sjogren, First Solar’s Chile country manager. “Luz del Norte
harnesses one of the region’s richest resources, allowing Chile to
reduce dependence on fossil-based fuels and meet renewable energy
targets set by the national Energy Agenda.” Sjogren pointed out
that the project is also an example of how the global energy
transition towards clean renewable energy alternatives is taking
place in Latin America.
Construction of the Luz del Norte power plant, located 58
kilometers north of the city of Copiapó, began in August 2014 and
is expected to enter full commercial operation by January 2016. At
that time, it will be the largest solar plant in Latin America,
generating enough electricity to meet the needs of more than
174,000 homes, avoiding over 185,000 metric tons of CO2 emissions
per year. First Solar is the developer and owner of Luz del Norte.
First Solar is actively seeking a permanent off-taker of power
generated by the project, which is currently being sold on the open
market.
“We are proud to leverage our industry-leading expertise in
project development, high energy yield PV technology, grid
integration and energy asset management to create a truly
remarkable renewable energy asset for Chile,” said Joe Kishkill,
First Solar’s President, International. “First Solar is a strong,
reliable technology partner, and we are eager to work with other
solar developers with projects in Chile. There is great opportunity
to continue solar development at the scale of Luz del Norte.”
Sjogren said First Solar’s presence in Chile has expanded this
year, with a permanent office in Santiago that includes more than
30 employees supporting more than 1GW of regional solar development
projects and partnership opportunities. “First Solar is positioned
to offer comprehensive PV energy solutions to meet the needs of our
customers from high efficiency modules and mounting solutions to
turnkey utility solar solutions. We believe strong, mutually
beneficial partnerships are critical to the continued growth of a
reliable, sustainable solar energy market,” Sjogren said. “Projects
like Luz del Norte represent only the beginning of what is to come
of solar energy in this region. First Solar is committed to taking
energy forward in Chile.”
Sjogren noted that the company has also worked to be an active
member of the communities in which it is doing business. Last year,
First Solar developed and funded a special job training program in
Copiapó intended to help young people obtain technical skills for
careers in renewable energy. And following the storms and flooding
that occurred last March in the Atacama region, First Solar’s Luz
del Norte team arranged for a US$50,000 donation directed towards
rebuilding damaged infrastructure and service in the region.
Through Desafio Levantemos Chile, First Solar’s donation was
focused on providing assistance to the town of Diego de Almagro,
one of the most heavily damaged communities.
Upon completion, Luz del Norte will generate power using 1.7
million of First Solar's high energy yield thin film photovoltaic
modules. First Solar's advanced PV modules have set the industry
benchmark with over 10GW installed worldwide and having recently
achieved a world record 18.6% thin film module conversion
efficiency, demonstrating a record module that is more efficient
than the best multi-crystalline module recorded. This achievement
reinforces confidence in First Solar's ability to deliver sustained
product improvements consistent with its long-term technology
roadmap. With both a superior temperature coefficient and superior
spectral response, First Solar’s PV technology has been
independently certified for reliable performance in high
temperature, high humidity, extreme desert, and coastal
environments.
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. For more information
about First Solar, 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 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
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predictions based on our current expectations and our projections
about future events. You should not place undue reliance on these
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These factors include, but are not limited to, the matters
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First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.com
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