First Solar Marks New Milestone with 10 Gigawatts of Installed PV Capacity
January 19 2015 - 2:01AM
Business Wire
14,000 gigawatt hours of energy generated per year is sufficient
to power Washington, D.C.
First Solar, Inc. (Nasdaq: FSLR) today announced that it has
achieved 10 gigawatts (GW) of photovoltaic (PV) solar capacity
installed globally, making it the first thin film PV module
manufacturer in the world to achieve this milestone. The
announcement was made at the start of the World Future Energy
Summit in Abu Dhabi, where First Solar is showcasing a
comprehensive range of solar energy solutions.
Founded in 1999, First Solar made its first commercial shipment
in 2002, and since then its advanced thin film modules have been
used in a wide range of applications, from kilowatt-scale mini-grid
and rooftop applications, to multi-megawatt utility scale solar
energy plants. With enough modules installed worldwide to circle
the planet three-and-a-half times, First Solar’s 10GW of installed
capacity produces an estimated 14,000 gigawatt hours (GWh) a year.
This is equivalent to the annual energy consumption of the city of
Washington, D.C. It is also sufficient to power five million
average households and displaces the need for as many as 20 average
coal-powered plants.
“This is much more than just a celebration of First Solar’s
track record and the trust that our customers have placed in our
technology. This milestone is a clear indication that solar is no
longer a subsidy-driven extra; it has evolved into a valued
component of the global generation portfolio, able to hold its own
in terms of cost competitiveness and energy yield,” said James
Hughes, Chief Executive Officer, First Solar, Inc. “Thanks to our
commitment to continuous improvement, we have been able to
contribute towards the global transition to renewables by offering
our customers solutions to their very specific energy
challenges.”
Significantly, with the smallest carbon footprint of all solar
technologies, First Solar’s installed capacity displaces an
estimated seven million metric tons of carbon dioxide per year, or
the equivalent of planting 180 million trees. Additionally, with
the lowest water use on a lifecycle basis, the use of First Solar’s
advanced thin film modules helps displace an estimated 18 billion
liters of water per year, sufficient to fill 7,000 Olympic-sized
swimming pools.
A fully vertically integrated solar energy company, First Solar
is the global leader in PV research and development (R&D),
consistently accounting for the industry’s largest spend in the
area1. It was also ranked as the world’s largest solar engineering,
procurement and construction (EPC) contractor2 in 2014, and has
been entrusted with building some of the world’s largest solar
power plants such as Agua Caliente (290MW) and the Topaz Solar Farm
(550MW) in the U.S. and Luz del Norte (141MW) in Chile.
Additionally, with a portfolio of over 2GW, First Solar is also the
industry’s operations and maintenance (O&M) services
leader.
Editors’ Notes:
1. Source: PV Tech’s Top Module Manufacturers R&D
Spending
2. Source: IHS Technology’s EPC and Integrator Market Share and
Project Market Tracker
About First Solar, Inc.
First Solar is a leading global provider of comprehensive
photovoltaic (PV) solar systems which use its advanced thin-film
modules. 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 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 Annual Report
on Form 10-K for the year ended December 31, 2013, Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K and other reports
filed with the SEC.
MediaFirst Solar Global Corporate CommunicationsSteve Krum, +1
602-427-3359Stephen.Krum@firstsolar.comorFirst Solar EMEA Corporate
CommunicationsReuven Proença, +971 (0)4 4559
410reuven.proenca@firstsolar.comorWeber ShandwickLena
Arkawi/Viviana Villasmil, +971 (0)4 445
4245dubwswfirstsolar@corp.ipgnetwork.comorInvestorsDavid Brady, +1
602 414-9315dbrady@firstsolar.comorStephen Haymore, +1
602-414-9315stephen.haymore@firstsolar.com
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