First Solar, Strata Sign 400MW Deal for 2017-18 Module Deliveries
October 29 2015 - 2:23PM
Business Wire
Strata tops 1GW of business with First Solar
Projects in development demonstrate confidence in US
utility-scale market
First Solar, Inc. (Nasdaq: FSLR) has signed an agreement with
Strata Solar for the procurement of an incremental 400 megawatts
(MW)DC of First Solar’s advanced thin film photovoltaic modules,
with delivery expected from 2017 into 2018.
With this agreement, Strata – one of the top utility-scale solar
project developers and builders in the United States – will have
purchased more than 1,000 MWDC from First Solar in a long-standing
relationship between the two major players in the solar
industry.
“We are pleased to be extending our relationship with First
Solar,” said Markus Willem, CEO of Strata Solar. “Strata has a
relentless focus on quality, efficiency, and flawless execution, so
it’s critical for us to have world-class technology partners like
First Solar.”
“This deal shows confidence in the continued strength of the
utility-scale solar market in the U.S.,” said Georges Antoun, First
Solar’s President, U.S. “We are excited by Strata’s ongoing
commitment to First Solar as a source of high-performance
technology that provides a competitive edge in their project
portfolio.”
Antoun said the agreement demonstrates the sustainability of
utility-scale project development. “We see ongoing opportunity for
continued growth over the next several years,” he said.
Antoun noted that First Solar has now sold more than 1.8GW of
modules in the U.S. Southeast, with modules either sold to outside
developers, EPC contractors, or used in First Solar’s own
projects.
Strata expects to install the modules in a series of solar
projects in the southern and eastern U.S.
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.
About Strata Solar, LLC
Strata Solar is a leading provider of utility-scale, commercial,
and industrial solar photovoltaic (PV) systems. The company’s
integrated approach, which includes development, financing,
engineering, procurement, construction, operations, and
maintenance, allows Strata to consistently build quality projects
while continuously driving down costs. Strata was recently ranked
as one of the four largest utility-scale solar PV integrators in
the U.S.
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/20151029006481/en/
First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.comorStrata Solar
MediaBrian O’Hara+1 919-960-6015bohara@stratasolar.com
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