First Solar Books 121MW in Community Solar Sales
August 03 2016 - 9:05AM
Business Wire
Utility-scale distributed generation broadens consumer access
to solar powerProjects under construction by M+W
Energy
First Solar, Inc. (Nasdaq: FSLR) announced today that it has
sales bookings of 121 Megawatts (MW)DC of advanced technology thin
film modules which will be used in utility-based community solar
installations in the United States. First Solar did not disclose
the owner or offtaker of the projects, many of which are still in
development and not yet announced by the owner.
“This scale of community solar implementation is extraordinary,
and suggests the enormous potential for this market segment,” said
Georges Antoun, First Solar’s Chief Commercial Officer. “Small
one-off installations cannot match the economies of scale realized
by utility-scale portfolios that minimize development costs,
transaction costs and building costs, while bringing end consumers
the freedom to choose solar energy.”
Antoun said the initiative is underway, with M+W Energy
constructing several small, closely sited solar projects comprising
approximately 41MWDC of clean renewable energy. Additional
generation facilities are expected to begin construction by the end
of 2016.
Power generated by the solar plants will be purchased by a
regional utility’s consumers through a special community solar
program that gives commercial and industrial operations,
non-profits, educational institutions and residential customers
access to clean, renewable energy without needing to install and
maintain solar panels on their rooftops, and with the confidence
that these systems are operated and maintained with utility-scale
infrastructure and reliability.
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: effects on our
financial statements and guidance resulting from certain tax
matters; 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 (including estimated future module collection and
recycling costs), warranties, solar module efficiency and balance
of systems 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
PV solar power systems; research and development programs and our
ability to improve the conversion efficiency of our solar modules;
our ability to expand manufacturing capacity worldwide; sales and
marketing initiatives; and competition. These forward-looking
statements are often characterized by the use of words such as
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"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. 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,
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These factors include, but are not limited to, the matters
discussed in Item 1A: "Risk Factors," of our most recent Annual
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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/20160803005237/en/
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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