First Solar Connects 130 MW of Utility-Scale Solar Power to the Grid in India
August 10 2016 - 7:00PM
Business Wire
Self-developed projects now total 150MWAC
First Solar, Inc. (NASDAQ: FSLR) Indian subsidiary First Solar
Power India Pvt. Ltd. today announced the successful commercial
operation of 80 MWAC and 50 MWAC capacity in Andhra Pradesh and
Telangana respectively. These projects are part of the 260MWAC
project portfolio wholly owned by First Solar in India.
“After achieving a recent milestone of 1GW of PV solar capacity
footprint in India, we are delighted to add 130 MWAC of
Utility-Scale Solar Power to the Grid, growing our portfolio of
operational solar assets to a cumulative capacity of 150 MWAC. With
the commissioning of these plants we have once again demonstrated
our strong execution capabilities, and with First Solar’s module
performance and reliability, the plants will provide the best
possible return on investment,” said Sujoy Ghosh, First Solar’s
Country Head for India.
The 130 MWAC plants collectively will produce enough energy to
power approximately 227,500 average homes in India, and will
displace over 204,000 metric tons of carbon dioxide per year. The
project will be powered by more than 1.4 million First Solar
modules, offering highly predictable energy in all climates and
applications. The modules have been independently tested to pass
accelerated life and stress tests beyond industry standards. With
both a superior temperature coefficient and superior spectral
response, they have been independently certified for reliable
performance in high temperature, high humidity, extreme desert, and
coastal environments.
The electricity from the projects will be purchased by the
Southern Power Distribution Company of Andhra Pradesh and The
Telangana State Southern Power Distribution Company Limited under
25 year power purchase agreements.
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;
sales and marketing initiatives; and competition. These
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are only predictions based on our current expectations and our
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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/20160810006222/en/
First Solar MediaDeepali Girdhar+91 8800
843600deepali.girdhar@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.com
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