TEMPE, Ariz., Oct 06, 2008 (BUSINESS WIRE) -- First Solar, Inc. (Nasdaq:FSLR) announced that the Company today held the official groundbreaking ceremony for the expansion of its Perrysburg, Ohio facility. Upon completion, the expansion will increase the annual capacity at the Perrysburg facility to approximately 192 megawatts, based on run rates for the second quarter of 2008. The new investment will add at least 134 new jobs to the Company's current workforce of 700 at its Perrysburg facility.
The expansion, announced on Aug. 18, 2008, will add approximately 500,000 square feet of manufacturing, research and development and office space. The Company will also construct a separate facility to support increased development activities associated with its advanced thin film solar module manufacturing technology.
First Solar President Bruce Sohn officiated over the groundbreaking celebration, which was attended by Ohio Governor Ted Strickland, U.S. Senators George Voinovich and Sherrod Brown, as well as a number of guests representing state and local government. First Solar has collaborated with the State of Ohio and local leaders on a comprehensive incentive package for these two projects. Today's groundbreaking puts First Solar on track to complete plant construction by the first half of 2009, with full volume production expected by the second quarter of 2010.
"First Solar is excited to move forward with this expansion. Our growing capacity allows us to continue reducing the cost of solar electricity to a level competitive with conventional sources," said Mr. Sohn. "The associates at our Ohio manufacturing plant are making a singular contribution to energy supply and a cleaner, healthier environment."
"Advanced energy can not only power our homes, it can power our economy," Gov. Strickland said. "And this new First Solar investment is one more big piece of evidence that advanced energy has a home in Ohio."
About First Solar
First Solar, Inc. (Nasdaq:FSLR) manufactures solar modules with an advanced thin film semiconductor technology and provides comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices, First Solar provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment.
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.
SOURCE: First Solar, Inc.
First Solar, Inc. Lisa Morse 602-414-9361 firstname.lastname@example.org
Copyright Business Wire 2008
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