On 20th Anniversary, First Solar Sets 25GW Milestone for Cleaner, Thin Film Solar
September 23 2019 - 9:00AM
First Solar, Inc. (Nasdaq: FSLR) is celebrating two decades since
its founding in 1999 and 25 gigawatts (GW)DC of photovoltaic (PV)
modules shipped, making it the only American solar manufacturing
company to achieve this milestone.
“Today, First Solar powers communities,
infrastructure, and decarbonization ambitions with the world’s
cleanest PV solar technology; technology that forms the backbone of
utility-scale solar fleets in some of the largest markets around
the globe. This leadership is no accident and is driven by a
combination of determined innovation, and an unwavering focus on
delivering value to our customers and our shareholders,” said Mark
Widmar, Chief Executive Officer, First Solar. “As we celebrate
these important milestones, we’re taking the opportunity to
recommit ourselves to our vision of leading the world’s sustainable
energy future.”
Headquartered in Tempe, Arizona, First Solar’s
technological roots are in Perrysburg, Ohio, where the Company
achieved commercial production of its proprietary thin film module
technology in 2002. Since then, First Solar has celebrated numerous
milestones, including the establishment of the industry’s first PV
module recycling program in 2005, and becoming the first solar
module manufacturer to break the $1 per watt barrier, while also
producing 1GW of modules in 2009.
More recently, First Solar has successfully
transitioned to its new large-format Series 6 module, which was
designed and developed at the Company’s research and development
centers in California and Ohio. The module leverages First Solar’s
proprietary thin film technology, retaining the proven performance
and reliability advantages of earlier generation modules. Produced
in just 3.5 hours using sophisticated, fully-integrated
manufacturing processes at factories in the United States,
Malaysia, and Vietnam, the Series 6 module has a carbon footprint
that is up to six times lower than crystalline silicon PV panels
that are manufactured using conventional, energy-intensive
production methods.
First Solar is on track to become the largest
solar module manufacturer in the Western Hemisphere when its second
Series 6 factory in the United States - representing nearly $1
billion in cumulative investment – becomes operational in
early-2020. Once operational, the new facility in Perrysburg, Ohio,
will take First Solar’s aggregate Series 6 manufacturing capacity
to 5.4GW per year.
“From 1.5MW of annual production less than two
decades ago to multiple gigawatts today, our journey has seen us
successfully overcome challenges and make the most of
opportunities. Our ability to not just survive but to thrive in
challenging environments that have claimed a number of our
competitors is due to the relentless energy and the sense of
purpose that drives us as a company,” Widmar said.
Meanwhile, First Solar Energy Services, the
solar industry’s top Operations and Maintenance (O&M) provider
is also celebrating ten years of success and 10GW of assets under
management. Recognized as the global industry leader in operating
and maintaining utility-scale solar plants by Wood Mackenzie and
IHS, First Solar Energy Services’ technology agnostic experience
spans several PV, tracker, and inverter manufacturers.
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 20th anniversary of
First Solar, Inc. the celebration of 25GWDC of modules shipped, the
10th anniversary of First Solar Energy Services, and 10GW of solar
assets under Operations and Maintenance (O&M) management. 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.comSteve
KerekesKyte Consulting for First
Solarsteve@jkyteconsulting.com |
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First Solar Investorsinvestor@firstsolar.com |
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