First Solar Receives Outstanding Project Award at InterSolar EU
July 12 2018 - 8:00AM
In the award citation, the Smarter E review jury called the study
“proof of concept… a game-changer for large-scale solar plants”
that demonstrated how “solar power plants can not only reduce the
need for carbon-emitting resources, but can also improve system
performance and operate with significantly higher levels of
variable generation.”First Solar, Inc. (Nasdaq:FSLR) has received
the inaugural Smarter E Award for an Outstanding Project, presented
last week at the InterSolar EU conference in Munich. The award
recognized a ground-breaking test conducted jointly by First Solar,
the U.S. Department of Energy’s National Renewable Energy
Laboratory (NREL) and grid operator California ISO (CAISO) on a
300MW utility-scale photovoltaic (PV) power plant in California to
demonstrate its ability to provide highly responsive services
essential for maintaining reliability of the grid.
“The results of this project can be used as a door opener to
convince stakeholders that utility-scale solar can contribute to
the reliability and stability of the grid and provide essential
grid services that are today often associated with conventional
generation,” the citation concluded.
“This award is for all of us in the solar industry,” said Mahesh
Morjaria, First Solar’s Vice President of Systems Development, in
accepting the award. “The study proves that more solar can be
integrated into the grid, enabling even further growth in the PV
industry.”
First Solar, CAISO and NREL carried out tests that successfully
demonstrated that utility-scale solar PV resources can be relied
upon to provide essential reliability services. The tests, which
were conducted on a newly built 300 MW solar PV plant, demonstrated
the role of advanced power controls in leveraging solar PV’s value
from simply an intermittent energy resource to providing services,
including spinning reserves, load following, voltage support,
ramping, frequency response, variability smoothing, frequency
regulation, and improved power quality.
“The project team carried out a pioneering demonstration concept
to show how various types of active and reactive power controls can
leverage PV generation’s value from being a simple variable energy
resource to a resource that provides a wide range of essential
reliability services,” said Vahan Gevorgian, chief engineer in
NREL’s Integrated Devices and Systems group and principal
investigator with the project.
The tests demonstrated that solar plants can react rapidly to
grid signals regarding frequency regulation, and more accurately
than conventional generation such as thermal, hydro or gas turbines
– and can be tightly regulated.
Criteria for the Outstanding Project 2018 Award included
demonstration that the nominated project was exemplary for global
future applications and was unique in its realization. Heavy
emphasis was placed on innovation and a pioneering spirit in the
exploration of renewable energy applications. The Smarter E Awards
program was introduced at the 2018 InterSolar EU conference as a
way to recognize groundbreaking work in the energy transition
towards a low carbon future.
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, but are not limited to, statements concerning: the receipt
of an award for a joint grid reliability study. 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
First Solar MediaSteve Krum+1
602-427-3359steve.krum@firstsolar.com
First Solar InvestorsStephen Haymore+1
602-414-9315stephen.haymore@firstsolar.com
SOURCE: First Solar, Inc.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0f8f4b8e-11e4-4b69-b5c4-b875c68f5cc7
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