595 MWdc over three years includes Series 4 and Series 6 applications
TEMPE, Ariz. and MIAMI, Fla. – December 5, 2017 – First Solar, Inc. (Nasdaq: FSLR) and Origis Energy USA announced today they have completed a module sale deal totaling 595 Megawatts (MW)dc and spanning a three-year delivery date schedule. Terms of the deals were not disclosed.
The agreement includes delivery of First Solar’s Series 4 modules in 2017 and 2018, as well as Series 6 modules in 2019 and 2020. The advanced technology thin film modules will be utilized in various projects throughout the United States in which Origis Energy is constructing solar sites.
“The bankability of solar and energy storage components is a key consideration for us to deliver high performing clean energy assets to our clients,” said Samir Verstyn, Chief Investment Officer, Origis Energy. “This alliance with First Solar fulfills the site and schedule commitments we have made to the market in the foreseeable future. We are very pleased to construct our projects with First Solar Tier 1 module technology.”
“First Solar is pleased to be selected by Origis Energy as a long-term partner,” said Georges Antoun, Chief Commercial Officer, First Solar. “Our technology advantage will help enable the projects Origis has in construction and development to be reliable, high-performance assets. This is a great match of technology and application.”
Origis Energy is Powering the Solar Revolution with custom clean energy solutions for utility, commercial and public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in more than 100 projects worldwide totaling 600+ megawatts to date of developed solar capacity. Headquartered in Miami, FL, Origis Energy USA delivers excellence in solar and energy storage development, financing, engineering, procurement and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers across Europe and the Americas. For more information, visit the company online at www.origisenergy.com.
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.
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 technology and 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; the impact of public policies, such as tariffs or other trade remedies imposed on solar cells and modules; our ability to expand manufacturing capacity worldwide; 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; 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, and other filings with the Securities and Exchange Commission.
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