First Solar Secures Syndicated Development Loan Facility from Mizuho Bank for Utility-Scale Solar Projects in Japan
June 09 2017 - 2:00AM
Business Wire
First Solar, Inc. (Nasdaq: FSLR) announced today that it has
signed a syndicated development loan facility agreement of
approximately 7 billion yen (US$64 million) with Mizuho Bank Ltd.
for its utility-scale solar project pipeline in Japan using First
Solar modules.
This financing represents the first syndicated solar project
development loan facility arranged and participated in by Mizuho
Bank, and it is the third loan facility First Solar has secured
with Mizuho Bank. Today’s agreement demonstrates First Solar’s
project development capabilities and track record in successfully
financing and delivering projects that support Japan’s goal to be
powered by reliable and affordable solar electricity.
This financing arrangement will facilitate utility-scale solar
projects that will utilize First Solar’s next generation Series 6
technology, confirming the performance and reliability advantages
inherent to First Solar’s technology in Japan. First Solar
technology is bankable worldwide and proven domestically to
consistently perform above expectations in operation. First Solar’s
industry-leading combination of module power output, superior
energy production, and stable performance allows mega-solar power
plant owners to produce more energy and revenue than alternative
technologies.
First Solar provides energy solutions that support Japan’s
renewable energy target of 7 percent solar by 2030. First Solar is
committed to the Japan market with a long-term sustainable business
model.
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 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; 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 statements are often
characterized by the use of words such as "estimate," "expect,"
"anticipate," "project," "plan," "intend," "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, 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, and other filings with the Securities and
Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170608006417/en/
First Solar MediaBurson-MarstellerHitomi Onda, Eiko Aiba+81
03-3264-6701FirstSolarJP.PR@bm.comorFirst Solar MediaJennifer
Abbott+61 2 9002 7736Jennifer.Abbott@FIRSTSOLAR.COMorFirst Solar
InvestorsStephen Haymore+1
602-414-9315Stephen.Haymore@FIRSTSOLAR.COM
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