Mr. Chris Kopecky reports

CAPITAL POWER SECURES 1 GW SUPPLY OF RESPONSIBLY PRODUCED, ULTRA-LOW CARBON FIRST SOLAR MODULES

First Solar Inc. and Capital Power Corp. have noted that Capital Power has secured its first order for approximately one gigawatt (GWDC (gigawatt direct current)) of responsibly produced, ultralow carbon thin film solar modules. The Series 6 Plus modules, which will be delivered between 2026 and 2028, will support Capital Power's growing development portfolio.

"We are excited to partner with First Solar and its responsibly produced ultralow carbon solar technology, which supports our solar development pipeline," said Chris Kopecky, senior vice-president, and chief legal, development and commercial officer, Capital Power. "First Solar's longstanding investment in domestic supply chains ensures the use of high-quality American solar technology, including products made with significant amounts of domestically sourced content, to power our projects. Together, with our shared commitment to the sustainable and responsible development of the solar industry, we look forward to building on this relationship."

First Solar's responsibly produced, advanced thin film photovoltaic (PV) modules set industry benchmarks for quality, durability, reliability, design and environmental performance. The company's solar modules have the lowest carbon and water footprint of any commercially available PV module today, and it is the first PV manufacturer to have its product included in the Electronic Product Environmental Assessment Tool (EPEAT) global registry for sustainable electronics.

First Solar's differentiated thin film semiconductor, integrated manufacturing process and tightly controlled supply chain helps eliminate the risk of exposure to solar supply chains identified by the United States Department of Labor's 2022 List of Goods Produced by Child Labor or Forced Labor as being tainted by forced labour. The company is the only one of the world's 10 largest solar manufacturers to be a member of the Responsible Business Alliance (RBA), the world's largest industry coalition dedicated to supporting the rights and well-being of workers and communities in the global supply chain, and the company has zero tolerance for forced labour in its manufacturing or its supply chains.

"Capital Power joins a growing group of project developers that partner with First Solar as a reliable module technology provider that can help derisk their project pipelines by delivering long-term pricing and supply certainty," said Georges Antoun, chief commercial officer, First Solar. "We are pleased that Capital Power selected responsible solar technology to power its assets reliably, affordably and sustainably."

Committed to net zero by 2045, Capital Power's balanced approach to power generation includes a focused effort on solar energy growth across North America. With three solar facilities in operation, Capital Power will use its development and construction expertise to deliver projects against an active U.S. solar pipeline totalling nearly 2.4 GWDC.

First Solar is investing approximately $1.3-billion in expanding its U.S. manufacturing footprint from over 6.5 gigawatts (GWDC) of annual nameplate capacity currently, to approximately 10.9 GWDC by 2026. In addition to the $1.1-billion expected investment in a new 3.5 GWDC facility in Alabama, the company has also embarked on a $185-million expansion of its existing manufacturing footprint in Ohio. First Solar, the largest solar manufacturer in the Western Hemisphere, also announced an investment of up to $370-million for a dedicated research and development (R&D) innovation centre in Perrysburg, Ohio, which is expected to be completed in 2024.

About Capital Power Corp.

Capital Power is a growth-oriented North American wholesale power producer with a strategic focus on sustainable energy headquartered in Edmonton, Alta. It builds, owns and operates high-quality, utility-scale generation facilities that include renewables and thermal. The company has also made significant investments in carbon capture and utilization to reduce carbon impacts. Capital Power owns approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities across North America. Projects in advanced development include approximately 224 MW of renewable generation in Alberta and North Carolina, 512 MW of incremental natural gas combined cycle capacity from the repowering of Genesee 1 and 2 in Alberta, and approximately 350 MW of natural gas and battery energy storage systems in Ontario.

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