Prime Road Group and First Solar, Inc. (Nasdaq: FSLR) welcome
the completion of four solar farms totaling 18 megawatts (MWDC) of
capacity in Thailand. Located across the Ayutthaya and Pathum Thani
Provinces, the Prime Road Group Co-Op Project (Project) utilizes
more than 158,500 First Solar thin-film photovoltaic (PV) modules
to produce approximately 29,600 megawatt-hours (MWh) of clean
electricity in the first year of operation. Developed under
Thailand’s Governmental Agency and Agricultural Cooperatives
Program, the completion marks an important milestone for the
country as it continues to grow its installed solar PV capacity and
target 30 per cent renewable energy by 2036.
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The Sena 1 solar installation is one of
four solar farms included in a group of power generation assets
completed across the Ayutthaya and Pathum Thani provinces in
Thailand by Prime Road Group. First Solar, Inc. supplied 18MW of
thin film PV modules for the projects. (Photo: Business Wire)
Thailand-based developer Prime Road Group has partnered with
First Solar as the module supplier and Bouygues-Thai Ltd – a
subsidiary of the French Bouygues Group – as the Engineering,
Procurement and Construction contractor for the delivery of the
Project. The Project will produce enough clean solar energy each
year to power 12,000 homes in Thailand and displace approximately
14,000 metric tons of carbon dioxide annually.
“We have developed a broad range of renewable energy projects in
Thailand and Japan, and the Prime Road Group Co-Op Project adds to
our growing regional portfolio of high-quality solar farms
developed, owned and operated by our group,” said Surachet
Chaipatamanont, Prime Road Group’s Director. “First Solar’s
thin-film technology was selected for Prime Road Group Co-Op
Project because of its superior energy performance attributes
compared to traditional solar modules, making it suitable for the
hot and humid conditions in Thailand.”
The First Solar Series 4 thin-film PV modules deployed at the
four sites are ideally suited to the local environmental conditions
in Southeast Asia, due to their superior temperature coefficient,
better shading response, and better spectral response. This
performance advantage allows for optimal performance and over the
course of the Project’s operational life will translate into
significant gains in power output.
“The completion represents a significant installation of First
Solar modules in Southeast Asia, and we congratulate Prime Road
Group and Bouygues-Thai on the successful delivery of this
milestone project today,” said Robert Bartrop, First Solar’s
Director of Business Development in Southeast Asia and China.
“First Solar’s partnership with the Prime Road Group Co-Op Project
reflects the value of First Solar technology in hot and humid
climates such as Thailand, and we look forward to supporting future
projects and the country’s renewable energy targets.”
“Bouygues-Thai is very proud to have contributed to this
project, committing to a higher level of performance to the Prime
Road Group project thanks to the technical advantage of the
thin-film modules developed by First Solar,” said Patrice Bard,
Managing Director of Bouygues-Thai Ltd.
The electricity from the Prime Road Group Co-Op Project will be
sold via a 25-year Power Purchase Agreement with the Provincial
Electricity Authority of Thailand at a rate of THB 5.66 per
kilowatt hour.
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.
About Prime Road Group Co., Ltd.
Prime Road Group (PRG) is a leading investment group based in
Thailand, with diversified interests in Renewable Energy, Real
Estate and Waste Management, and a regional focus in the
Asia-Pacific. In its Renewable Energy business, it develops, owns
and operates projects in Thailand and Japan, with a portfolio of
over 100MW of Solar PV in operation and a significant pipeline in
development. It aims to expand its presence across SE Asia and
other emerging markets by tapping into the growing demand for
renewable energy in the region.
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 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
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plural of these words and other comparable terminology.
Forward-looking statements are only predictions based on our
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should not place undue reliance on these forward-looking
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but are not limited to, the matters discussed in Item 1A: "Risk
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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/20170207006607/en/
First Solar MediaJennifer
Abbott+61-2-9002-7736jennifer.abbott@firstsolar.comorPrime Road
Group Mediacontact@primeroadgroup.comorFirst Solar
InvestorsStephen Haymore+1
602-414-9315stephen.haymore@firstsolar.com
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