First Solar Presents First Functional Series 6 Module
December 05 2017 - 12:00PM
Business Wire
Production-scale throughput marks a major milestone in factory
retooling
Expansion of Vietnam production facility also announced
First Solar, Inc. (Nasdaq: FSLR) today unveiled the first
functional Series 6 thin film photovoltaic module off the company’s
Perrysburg, Ohio, new production line. Presented during a meeting
with investment analysts at the Perrysburg facility, the large area
Cadmium Telluride (CdTe) glass-on-glass module was part of the
first batch of material run completely through the recently
activated line. This marks a major milestone in a factory retooling
that began just under one year ago, and included approximately $177
million in capital investment.
The new line is expected to be producing commercial product by
early in the second quarter of 2018, and will have an annualized
output of 600MWdc when operating at full capacity.
Series 6 is expected to enter the commercial market with a power
rating of 420-445 watts and conversion efficiency of over 17
percent. Measuring approximately 2 meters by 1.2 meters, Series 6
modules will provide more watts per lift than comparable
crystalline silicon solar panels, and can be installed on virtually
any ground-based PV mounting system.
“This is an extraordinary accomplishment, by any measure,” said
First Solar CEO Mark Widmar. “Last November, we were in full Series
4 production mode. Since our decision at the end of 2016 to rapidly
transition to Series 6, we’ve hit every incremental target with
precision. We are absolutely delighted to be on track for delivery
of commercial product early next year.”
Also during the meeting with analysts, First Solar announced it
is expanding its production facility in Vietnam, essentially
doubling production capacity of the initial site, which is still
under construction. Annualized production capacity in Vietnam, when
fully operational, will be 2.4GWdc. This, in combination with
Perrysburg and facilities in Kulim, Malaysia, will give First Solar
a total Series 6 manufacturing capacity of approximately 5.4GWdc by
2020, and represents approximately $1.4 billion in capital
investment.
In late November of 2016, as a response to the highly
competitive and dynamic PV market environment and customer demand
for higher efficiency modules, First Solar made a strategic
decision to accelerate development and production of Series 6. The
new product, still based on First Solar’s unique thin film CdTe PV
technology, increases physical dimensions and performance
characteristics while adding an under-mount frame that allows for
simple, high-velocity installation of the product in the field.
With superior temperature coefficient, spectral response and
shading behavior, Series 6 modules will generate significantly more
energy than conventional crystalline silicon modules.
Widmar said First Solar will continue to maintain some Series 4
production at the Kulim plant as long as economic global demand
calls for the product.
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 module
manufacturing changes and associated restructuring activities; 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 technology and 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; the impact of public
policies, such as tariffs or other trade remedies imposed on solar
cells and modules; our ability to expand manufacturing capacity
worldwide; 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; sales and
marketing initiatives; and competition. These forward-looking
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version on businesswire.com: http://www.businesswire.com/news/home/20171205006122/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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