BANGKOK, Aug. 14, 2012 – First Solar, Inc. (Nasdaq: FSLR) today announced it has established a Thailand operating subsidiary, First Solar (Thailand) Ltd., and opened an office in Bangkok. Creation of the local subsidiary will better enable First Solar to execute its strategy to expand the market for utility‐scale solar photovoltaic (PV) power plants in the local market, and to deliver value to Thai solar power producers.
“The long‐term energy fundamentals in Thailand are very favorable for a solar power solution to meet their growing energy needs, and we will continue to invest here as part of our strategy to develop sustainable, utilityscale solar markets,” said Won Park, Senior Manager, Business Development.
Thailand is expected to remainan important solar market in Southeast Asia due to its strong economic growth, significant energy demand and abundant solar resource. First Solar entered the Thai PV market in 2011, and since that time more than 12 megawatts (MW) of solar PV projects have already been installed or are under construction using First Solar’s advanced thin‐film module technology.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin‐film modules. 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 collection and 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 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.
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