Prime Road Group and First Solar Complete 18MW of Solar Farms in Thailand
Prime Road Group and First Solar, Inc. (Nasdaq: FSLR) welcome the
completion of four solar farms totaling 18 megawatts (MWDC)
of capacity in Thailand. Located across the Ayutthaya and Pathum Thani
Provinces, the Prime Road Group Co-Op Project (Project) utilizes more
than 158,500 First Solar thin-film photovoltaic (PV) modules to produce
approximately 29,600 megawatt-hours (MWh) of clean electricity in the
first year of operation. Developed under Thailand's Governmental Agency
and Agricultural Cooperatives Program, the completion marks an important
milestone for the country as it continues to grow its installed solar PV
capacity and target 30 per cent renewable energy by 2036.
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The Sena 1 solar installation is one of four solar farms included in a group of power generation assets completed across the Ayutthaya and Pathum Thani provinces in Thailand by Prime Road Group. First Solar, Inc. supplied 18MW of thin film PV modules for the projects. (Photo: Business Wire)
Thailand-based developer Prime Road Group has partnered with First Solar
as the module supplier and Bouygues-Thai Ltd - a subsidiary of the
French Bouygues Group - as the Engineering, Procurement and Construction
contractor for the delivery of the Project. The Project will produce
enough clean solar energy each year to power 12,000 homes in Thailand
and displace approximately 14,000 metric tons of carbon dioxide annually.
"We have developed a broad range of renewable energy projects in
Thailand and Japan, and the Prime Road Group Co-Op Project adds to our
growing regional portfolio of high-quality solar farms developed, owned
and operated by our group," said Surachet Chaipatamanont, Prime Road
Group's Director. "First Solar's thin-film technology was selected for
Prime Road Group Co-Op Project because of its superior energy
performance attributes compared to traditional solar modules, making it
suitable for the hot and humid conditions in Thailand."
The First Solar Series 4 thin-film PV modules deployed at the four sites
are ideally suited to the local environmental conditions in Southeast
Asia, due to their superior temperature coefficient, better shading
response, and better spectral response. This performance advantage
allows for optimal performance and over the course of the Project's
operational life will translate into significant gains in power output.
"The completion represents a significant installation of First Solar
modules in Southeast Asia, and we congratulate Prime Road Group and
Bouygues-Thai on the successful delivery of this milestone project
today," said Robert Bartrop, First Solar's Director of Business
Development in Southeast Asia and China. "First Solar's partnership with
the Prime Road Group Co-Op Project reflects the value of First Solar
technology in hot and humid climates such as Thailand, and we look
forward to supporting future projects and the country's renewable energy
"Bouygues-Thai is very proud to have contributed to this project,
committing to a higher level of performance to the Prime Road Group
project thanks to the technical advantage of the thin-film modules
developed by First Solar," said Patrice Bard, Managing Director of
The electricity from the Prime Road Group Co-Op Project will be sold via
a 25-year Power Purchase Agreement with the Provincial Electricity
Authority of Thailand at a rate of THB 5.66 per kilowatt hour.
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.
About Prime Road Group Co., Ltd.
Prime Road Group (PRG) is a leading investment group based in Thailand,
with diversified interests in Renewable Energy, Real Estate and Waste
Management, and a regional focus in the Asia-Pacific. In its Renewable
Energy business, it develops, owns and operates projects in Thailand and
Japan, with a portfolio of over 100MW of Solar PV in operation and a
significant pipeline in development. It aims to expand its presence
across SE Asia and other emerging markets by tapping into the growing
demand for renewable energy in the region.
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: 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 efficiency and balance of
systems 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;
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; our ability to expand
manufacturing capacity worldwide; sales and marketing initiatives; and
competition. These forward-looking statements are often characterized by
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"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
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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170207006607/en/
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Source: First Solar, Inc.
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