August 10, 2016

First Solar Connects 130 MW of Utility-Scale Solar Power to the Grid in India

Self-developed projects now total 150MWAC

NEW DELHI--(BUSINESS WIRE)-- First Solar, Inc. (NASDAQ: FSLR) Indian subsidiary First Solar Power India Pvt. Ltd. today announced the successful commercial operation of 80 MWAC and 50 MWAC capacity in Andhra Pradesh and Telangana respectively. These projects are part of the 260MWAC project portfolio wholly owned by First Solar in India.

"After achieving a recent milestone of 1GW of PV solar capacity footprint in India, we are delighted to add 130 MWAC of Utility-Scale Solar Power to the Grid, growing our portfolio of operational solar assets to a cumulative capacity of 150 MWAC. With the commissioning of these plants we have once again demonstrated our strong execution capabilities, and with First Solar's module performance and reliability, the plants will provide the best possible return on investment," said Sujoy Ghosh, First Solar's Country Head for India.

The 130 MWAC plants collectively will produce enough energy to power approximately 227,500 average homes in India, and will displace over 204,000 metric tons of carbon dioxide per year. The project will be powered by more than 1.4 million First Solar modules, offering highly predictable energy in all climates and applications. The modules have been independently tested to pass accelerated life and stress tests beyond industry standards. With both a superior temperature coefficient and superior spectral response, they have been independently certified for reliable performance in high temperature, high humidity, extreme desert, and coastal environments.

The electricity from the projects will be purchased by the Southern Power Distribution Company of Andhra Pradesh and The Telangana State Southern Power Distribution Company Limited under 25 year power purchase agreements.

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: effects on our financial statements and guidance resulting from certain tax matters; 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; 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," "seek," "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 most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC.

First Solar Media
Deepali Girdhar
+91 8800 843600
deepali.girdhar@firstsolar.com
or
First Solar Investors
Stephen Haymore
+1 602-414-9315
stephen.haymore@firstsolar.com

Source: First Solar, Inc.

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