ROME, 15 March, 2012 - First Solar, Inc. (Nasdaq: FSLR) and BW EUROPE today announced they have concluded a distribution arrangement under which BW EUROPE will sell First Solar's advanced, thin-film solar modules in Italy.
BW EUROPE is a leader in module sales in Italy, including building-integrated photovoltaics and photovoltaic (PV) systems integration. First Solar is a leader in the production of thin-film solar modules using a thin-film cadmium telluride semiconductor with excellent field performance under Italian climatic conditions. More than 5 gigawatts (GW) of First Solar modules have been deployed worldwide since their commercial debut in 2002.
"We are pleased to be able to offer our customers products known for high yield and reliability and from an international market leader like First Solar," said Enrico Tonduti, President of BW EUROPE S.p.A. "First Solar modules produce higher yields than competing modules in field performance with an attractive look that appeals to our most discerning customers."
"BW EUROPE is a strong distribution partner for First Solar in Italy thanks to its experience with thin-film PV and its reputation for serving aesthetically demanding customers," said Alfredo di Stefano, Italy Account Manager for First Solar. "This collaboration presents a good opportunity for both companies to serve the market for clean, sustainable solar power in Italy."
First Solar utilizes a continuous manufacturing process which transforms a sheet of glass into a complete solar module in less than 2.5 hours, which contributes to the company's industry-leading energy payback time and the low carbon footprint of systems using First Solar PV modules. First Solar also implemented the industry's first comprehensive, prefunded solar module collection and recycling program.
About First Solar
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.
About BW EUROPE S.p.A.
The mission of BW Europe, whose management has been active in the energy sector since 2003, is the promotion of innovative renewable energy technologies. Respect for the environment, technology and design to improve the quality of life of the plant and of those who inhabit it. Based in Rome, BW EUROPE is the Italian leader in the distribution of thin-film solar photovoltaic modules and proposes complete solutions with advanced technologies and a high degree of architectural integration. In addition to producing clean energy it contributes to innovation in building construction. www.bweurope.eu
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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