First Solar, Inc. (NASDAQ: FSLR) has been selected as the turnkey
Engineering, Procurement and Construction (EPC) contractor for two
projects under development by EDF Renewable Energy in California.
First Solar and EDF Renewable Energy have signed EPC agreements for the
19.76 Megawatt (MW) AC CID Solar Project, located in Kings
County; and the 23MWAC Cottonwood Solar Project, consisting
of two sites, one located in Kings County and the other in Kern County.
The CID Solar Project has a Power Purchase Agreement (PPA) with Pacific
Gas and Electric Company. The Cottonwood project has a PPA with Marin
Clean Energy.
“We are proud to be selected by EDF Renewable Energy as a builder of
choice,” said Christopher Houghton, First Solar’s Senior Manager of US
Business Development. “With these projects, First Solar continues to
bring value to customers counting on our proven experience and
reliability in providing cost-effective energy solutions.”
Both CID Solar and Cottonwood projects will be built with First Solar’s
Series 3 Black Plus PV thin-film solar modules, and will provide
enhanced grid reliability and stability using the company’s advanced PV
plant controls. Construction on the projects is expected to begin in the
second quarter of 2014, with CID Solar anticipated completion in October
2014 and Cottonwood anticipated completion in the first quarter of 2015.
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, 2013, Quarterly Reports on Form 10-Q, Current Reports on
Form 8-K and other reports filed with the SEC.
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