and Meets Annual Electricity Needs of More Than 2,100 Average Households
Bangkok, April 20, 2012, –First Solar, Inc. (Nasdaq: FSLR) and Solarta Co., Ltd., today marked the first anniversary of the successful completion of the 3 megawatt (MW) (DC) Sai Sena Solar project in Sena, Ayutthaya, Thailand.
The facility is located 70 kilometers north of Bangkok on 10.4 hectares of land. Owned by Solarta and built by Conergy with around 40,000 First Solar photovoltaic (PV) solar modules, it is expected to send 4.5 million kilowatt hours (kWh) a year of renewable energy to the grid of the Provincial Electricity Authority of Thailand. The electricity produced is equivalent to the annual electricity needs of some 2,100 average Thai households and will displace on average more than 2,200 metric tons of CO2 emissions a year—equivalent to removing more than 1, 000 cars from the road.
“We are pleased to be contributing to the supply of clean, green energy in Thailand, and also have been pleased with the better-than-expected performance of First Solar’s modules under Thailand’s challenging climatic conditions,” said Dr.Supot Sumritvanitcha, CEO of Yanhee Solar Power, a shareholder of Solarta.
Mr. Noppol Milinthanggoon, Chief Executive Officer of Ratchaburi Electricity Generating Holding PCL. (RATCH), said, "As the leading independent power producer in Thailand, the company focuses its investments not only on fossil fuel fired facilities but also on renewable energy. These investments are in response to the Thai government’s policy of increasing the proportion of renewable sources of electricity generation and reducing the country’s dependence on fossil fuels. Currently, the company has a total renewable electricity generation capacity of 102 MW from 15 projects including wind farms, solar farms and biomass projects. The 3 MW Sai Sena solar power plant, one of eight projects in which the company has interests through Solarta Company Limited, has been commercially operational since April 2011."
“This milestone is very important for us because the Sai Sena project at the time of its commissioning was Southeast Asia’s largest private solar project,” said Kevin Berkemeyer, First Solar Senior Manager, Business Development. “The success of this project has encouraged more investment in solar power in Thailand, and we look forward to continuing to help Thailand fulfill its clean energy and energy security needs in the months and years to come.”
The modules in the project are covered by First Solar’s industry-leading, prefunded module and recycling program, under which the company will collect and recycle its modules at no additional charge. First Solar’s advanced PV technology is specifically designed to deliver clean, affordable and sustainable solar power on a large scale with the lowest carbon footprint of any current PV technology.
Photo courtesy of Ratchaburi.
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor technology, and is a premier provider of comprehensive photovoltaic (PV) system solutions. The company 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 value-driven 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.
Solarta Company Limited is a solar power developer in Thailand. It operates 8 solar power projects located in central region of Thailand with 34.25 megawatts in total capacity. All projects were already granted a non-firm power purchase agreement for very small power producer using renewable energy with the Provincial Electricity Authority and a subsidy of 8 Baht per kWh adder from the Power Department Fund Management Division for 10 years. Solarta is owned by Yanhee Solar Power Company Limited and Ratchaburi Electricity Generatiin Holding Public Company Limited.
Ratchaburi Electricity Generating Holding Public Company Limited (RATCH: trading symbol in the Stock Exchange of Thailand) is the leading independent power producer in Thailand. It focuses on three main businesses including power generation, renewable for power generation and business related to power generation. Besides Thailand, the company has successfully established its presence in Lao PDR., Cambodia and Australia. Currently it records total installed capacity of 5,312 MW in accordance with its shareholding.
For further information please contact:
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+1 (602) 427-3318
SOURCE: First Solar, Inc.