RSS Content

TEMPE, Ariz., Nov 23, 2009 (BUSINESS WIRE) -- First Solar, Inc. (Nasdaq:FSLR), today announced the sale of the 21 megawatt (MW) AC solar energy project it has developed and constructed in Blythe, Calif., to NRG Energy, Inc.

Located in Riverside County about 200 miles east of Los Angeles, the Blythe project is California's first and largest utility-scale photovoltaic (PV) solar generation facility, and among the largest in North America. Construction began in September and is expected to be completed by year-end. Electricity from the plant will be sold to Southern California Edison under a 20-year power purchase agreement.

"First Solar is very pleased that the first of our utility-scale solar projects in California will be coming on line with a leading power producer like NRG," said Bruce Sohn, president of First Solar. "This clean, affordable, and sustainable energy will help California meet the goals of its Renewable Portfolio Standard."

Using First Solar's industry-leading thin film PV panels that convert sunlight directly into electricity with no water consumption during operation, the project will generate over 45,000 megawatt-hours of electricity per year. The solar generation displaces over 12,000 tons of carbon dioxide emissions per year--the equivalent of taking 2,200 cars off the road. The construction of this project created 175 green jobs.

First Solar will provide operations and maintenance services at Blythe under a long-term contract with NRG. Financial terms of the agreement were not disclosed.

First Solar is developing 1,300 megawatts of PV solar projects under contracts with utilities in California and the Southwest.

About First Solar

First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. By continually driving down manufacturing costs, First Solar is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that 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 the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

SOURCE: First Solar, Inc.

First Solar, Inc.
Media Contact:
Alan Bernheimer, 602-414-9361
media@firstsolar.com
Investor Contact:
Larry Polizzotto, 602-414-9315
investor@firstsolar.com