First Solar Wins 160MW of Module Contracts in Turkey
August 11 2016 - 8:30AM
Business Wire
Turkish energy companies select First Solar modules to power
projects
First Solar, Inc. (Nasdaq: FSLR) today announced that it has
booked 160 Megawatts (MW)DC of photovoltaic (PV) module sales in
Turkey in the first half of 2016. The orders were placed by
Basariarge Enerji A.S. and Zorlu Enerji.
Zorlu Enerji, a subsidiary of Zorlu Holding, has contracted
First Solar to supply 100MWDC of its high performance Series 4 thin
film modules, for projects expected to be constructed and
commissioned in 2017. Basariarge Enerji A.S. - a joint venture
between Basari Yatirimlar, a Turkish infrastructure company, and
the Basari Group - has placed orders for 60MWDC of modules that
will power its own projects, as well as PV power plants that it
will provide EPC services for. The first modules will be delivered
in late 2016.
“Zorlu Enerji and Basariarge Enerji join a fast-growing list of
Turkish energy companies that benefit from the tangible upside that
First Solar’s energy yield advantage delivers in the country,” said
Georges Antoun, First Solar’s Chief Commercial Officer. “These
agreements confirm assessments that solar energy in general, and
First Solar technology in particular, is the right response to
Turkey’s energy security challenges – reliably delivering
cost-competitive electricity that addresses an immediate need. They
also reaffirm First Solar’s belief in the sustainability of
Turkey’s solar energy market.”
First Solar established an office in Istanbul in April 2014 and
has since secured a contracted module sale pipeline of over 300MW,
making it a leading PV module supplier in the country.
“Our track record over the past two years reflects the trust
that our customers in Turkey have placed in First Solar and in our
module technology. We are very pleased with the progress that we
have made and look forward to growing with our customers there,”
Antoun added.
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
"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, Current
Reports on Form 8-K and other reports filed with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160811005213/en/
First Solar MediaReuven Proença+971 (0)4 4559
410reuven.proenca@firstsolar.comorFirst Solar InvestorsStephen
Haymore+1 602-414-9315stephen.haymore@firstsolar.com
First Solar (NASDAQ:FSLR)
Historical Stock Chart
From Aug 2024 to Sep 2024
First Solar (NASDAQ:FSLR)
Historical Stock Chart
From Sep 2023 to Sep 2024