Will enable broader application of safe, clean, renewable energy
System integrator targets installation of 100MW of First Solar
thin film modules per year
TOKYO -- (Business Wire)
First Solar (NASDAQ:FSLR), the leading global provider of comprehensive
photovoltaic (PV) solar energy solutions, and XSOL Co., Ltd., a leading
distributor and integrator of solar systems in Japan, today announced
that they have signed an agreement to supply First Solar’s cadmium
telluride (CdTe) thin film modules in Japan. The agreement targets
installation of 100 megawatts (MW)DC per year.
Last year, First Solar announced plans to invest $100M in development of
mega solar power projects in Japan. The agreement with XSOL enables
First Solar’s advanced technology to be supplied to smaller scale
projects as well.
“First Solar is investing in Japan’s energy future,” said Karl
Brutsaert, Head of Business Development for First Solar, Japan. “This
agreement with XSOL enables us to deliver safe and clean solar
electricity on an even broader basis. XSOL is a leader in solar power in
Japan, and we look forward to partnering with them to realize solar
power’s promise in Japan.”
First Solar technology generates up to 8 percent more energy than
conventional crystalline silicon modules, and a superior temperature
coefficient results in greater energy yield in warmer climates. First
Solar modules have also been independently tested to pass accelerated
life and stress tests beyond industry standards, indicating
best-in-class long-term performance and durability in the harshest
operating conditions. By combining higher energy yields and
industry-leading reliability, First Solar’s advanced thin film solar
modules maximize value and minimize risk for customers.
“First Solar’s differentiated technology will be valued by our
customers,” said Akira Waki, Director for XSOL. “Further, First Solar
modules are recognized by 3rd party scientists as leading in ecological
efficiency, and First Solar already has in place a globally-proven
module recycling program, enabling us to meet our commitments to save
the global environment and broaden solar power accessibility.”
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 statements, among
other things, concerning: 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, warranties, solar module efficiency and balance of systems
(“BoS”) cost reduction roadmaps, restructuring, product reliability 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
photovoltaic (“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,”
“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 Annual Report on Form 10-K for the year ended
December 31, 2012, as updated and supplemented by risk factors included
in our Prospectus dated June 12, 2013 filed with the SEC pursuant to
Rule 424(b)(5) (the “Prospectus”), Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports filed with the SEC.
About XSOL Co., Ltd.
XSOL specializes in solar power and has worked on technological
developments and its promotion. XSOL’s mission as a leading solar power
company is to offer one-stop solutions – innovate ideas, extensive
products, consistent services – to create a sustainable society that
meets the needs of the people.
Contacts:
First Solar Media
Eiko Aiba
Burson-Marsteller for First Solar
Eiko.Aiba@bm.com
or
Deepali
Girdhar
+91 8800 843600
deepali.girdhar@firstsolar.com
or
First
Solar Investors
David Brady
+1 602-414-9315
dbrady@firstsolar.com
Source: First Solar, Inc.
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