First Solar Becomes Largest PV Module Manufacturer in the Western Hemisphere
October 24 2019 - 9:00AM
First Solar, Inc. (Nasdaq:FSLR) today announced the start of
production at its new photovoltaic (PV) module manufacturing
facility in Lake Township, Ohio, its second factory in the United
States. First Solar continues to operate its flagship factory in
Perrysburg, Ohio, effectively scaling its total annualized
production capacity in the U.S. to 1.9-gigawatts (GW)DC.
First Solar’s expanded manufacturing footprint
in the United States, which represents over $1 billion in
cumulative investment and directly created approximately 500 new
jobs, makes it the largest solar manufacturer in America and the
Western Hemisphere. The investment includes a new $265 million TCO
(transparent conductive oxide) coated glass factory being built by
the NSG Group in Troy Township, Ohio, its first new float glass
line in the country since 1980.
“Eighteen months ago, we announced that we would
expand our manufacturing footprint in the United States in response
to demand. We have delivered,” said Mark Widmar, Chief Executive
Officer, First Solar. “The fact that we were able to transform a
greenfield site into a high tech manufacturing facility in that
time, and on time, speaks volumes about not just the scalability of
our technology, and our ability to deliver on our commitments, but
also the relentless energy of our people, our towering
strength.”
Both facilities produce First Solar’s Series 6
module technology. Designed and developed at the Company’s research
and development centers in California and Ohio, the module is
produced in just 3.5 hours using sophisticated, fully-integrated
manufacturing processes. Each large-format Series 6 module
leverages First Solar’s proprietary thin film technology, retaining
the proven performance and reliability advantages of earlier
generation modules. With a carbon footprint that is up to six times
lower than crystalline silicon PV panels that are manufactured
using conventional, energy-intensive production methods, Series 6
delivers a superior environmental profile and cleaner solar
electricity.
“Our Lake Township facility is a marvel of
modern manufacturing, a factory of the future, operational today.
Its levels of automation, digitalization, machine learning, and
artificial intelligence demonstrate that the ambitions of Industry
4.0 are not out of reach for the PV manufacturing industry,” said
Tymen de Jong, Chief Operating Officer, First Solar. “We’re
incredibly proud of what we have achieved, and we are proud to have
achieved it in Northwestern Ohio, the technological home of
American solar.”
First Solar is also celebrating two decades
since its founding in 1999, and 25GWDC of PV modules shipped,
making it the only American solar module manufacturing company to
achieve this milestone. First Solar also operates manufacturing
facilities in Vietnam and Malaysia with a current global annualized
manufacturing capacity of 6.7GWDC.
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 InvestorsThis
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, but
are not limited to, statements concerning the commencement of
manufacturing at First Solar’s new manufacturing facility in Lake
Township, Ohio. 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 and
therefore speak only as of the date of this release. 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, whether as a result of new information,
future developments or otherwise. 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 under the captions “Risk Factors”
and “Management’s Discussion and Analysis of Financial Conditions
and Results of Operations” of our most recent Annual Report on Form
10-K and our subsequently filed Quarterly Reports on Form 10-Q, as
supplemented by our other filings with the Securities and Exchange
Commission.
Contacts
Reuven
ProençaFirst Solar Mediareuven.proenca@firstsolar.com
Steve KerekesKyte Consulting for First
Solarsteve@jkyteconsulting.com |
First Solar
Investorsinvestors@firstsolar.com
|
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/61675cc6-52b2-4a2d-b003-7cefc14eb67c
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/090f0d0c-24a9-48b3-94c6-92dc072a88f1
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