PARIS, Jul 23, 2009 (BUSINESS WIRE) -- EDF Energies Nouvelles (EDF EN) and First Solar, Inc. (Nasdaq: FSLR)
today announced a venture to build France's largest solar panel
manufacturing plant. With an initial annual capacity of more than
100MWp, the plant will produce solar panels made with First Solar's
advanced, thin-film photovoltaic technology. This new venture
will support the recently announced goal of the French government to
become a leader in sustainable energy technologies including solar
electricity. At full production, projected for the second half of 2011,
the plant will employ more than 300 people.
Under the terms of the arrangement, First Solar will build and operate
the plant in France. The plant represents an expected investment of more
than EUR 90 million. The initial annualized capacity of the plant is
expected to exceed 100MWp, making it the largest manufacturing facility
for solar panels in France. EDF Energies Nouvelles has agreed to finance
half of the capital expense and plant start-up costs and will benefit
from the plant's entire output for the first 10 years. First Solar and
EDF EN intend to announce their decision on the site location within the
next few months.
The investment decision was announced in the presence of French
Sustainable Development Minister Jean-Louis Borloo. "I salute the
decision of EDF Energies Nouvelles and First Solar to invest and create
jobs in France's solar sector, which has begun to take off since the
Grenelle de l'Environnement," he said. "This investment represents a
veritable turning point for the photovoltaic industry and confirms that
France is more than ever in a position to play a leading role globally."
Pâris Mouratoglou, Chairman of the Board of EDF Energies Nouvelles,
said, "This agreement represents a key milestone in the strategy of
our group, which has the ambition to be a global leader in solar energy." The company successfully raised EUR 500 million last year to finance
its expansion in the photovoltaic sector. It has set itself a target of
installing 500MWp in photovoltaic capacity for its own account by 2012.
"Securing a competitive supply is essential for us to participate in the
development of a large French solar market," he said.
"We have successfully built a number of projects with First Solar
panels. This strategic agreement is the result of a relationship built
on trust and offers our two groups solid and promising potential," he
said.
Mike Ahearn, Chairman and Chief Executive Officer of First Solar,
said, "The decision to invest in France reflects our firm belief in the
French market and its great potential. It represents a vote of
confidence in the policies being developed by the French government
since the Grenelle de l'Environnement to promote renewable energies and
allow solar electricity to compete economically with other forms of
energy."
"This decision by First Solar and EDF EN is a sign of our shared
commitment to the future of solar electricity," Mr. Ahearn said. "We
commend President Nicolas Sarkozy's leadership in promoting long-term
policies to build a more sustainable energy future not just for France
but the world. Countries that create market frameworks that enable solar
and other renewable energies to achieve commercial scale will reap the
greatest benefits in private sector investment, technological innovation
and job creation." The long-term commitments of the French Government to
provide the policy and regulatory frameworks that enable robust solar
markets and of EDF EN to invest in developing and expanding the French
market were key factors in our decision to invest in France, he said.
First Solar's manufacturing site will also include a facility for
recycling solar panels, France's first such facility and Europe's only
solar panel recycling plant outside of Germany.
About First Solar
First Solar, Inc. (Nasdaq: FSLR) is changing the way the world is
powered by creating truly sustainable solar energy solutions. First
Solar manufactures solar panels with an advanced semiconductor
technology and provides comprehensive photovoltaic system solutions. By
constantly lowering manufacturing costs, First Solar is creating an
affordable and environmentally responsible alternative to fossil-fuel
generation. First Solar set the benchmark for environmentally
responsible product life cycle management by introducing the industry's
first prefunded, comprehensive collection and recycling program for
solar panels. 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
more information about First Solar, please visit www.firstsolar.com,
or www.firstsolar.com/media to
download photos.
About EDF EN
With operations in ten European countries and in America, EDF Energies
Nouvelles is a market leader in renewable energies. With a development
focused on wind energy for several years and more recently on solar
photovoltaic, now a second priority avenue of development, the Group is
also present in other segments of the renewable energies market: small
hydro, biomass, biofuel and biogas. In addition, the Group is expanding
its presence in the distributed renewable energies sector. EDF Energies
Nouvelles is a 50%-owned subsidiary of the EDF Group. Since November
2006, EDF Energies Nouvelles is listed in Euronext Paris, code "EEN",
ISIN code: FR0010400143. www.edf-energies-nouvelles.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.
SOURCE: First Solar, Inc.
EDF Energies Nouvelles - Media Relations
Clotilde Nicolas
+33 (1) 40 90 48 02
clotilde.nicolas@edf-en.com
Aurélia de Lapeyrouse (Agence Brunswick)
+33 (1) 53 96 83 72
or
EDF Energies Nouvelles - Investor Relations
Dorothée Hontebeyrie
+ 33 (1) 40 90 20 50
dorothée.hontebeyrie@edf-en.com
Delphine Deshayes
+33 (1) 40 90 21 45
Delphine.deshayes@edf-en.com
or
First Solar - Media Relations (Europe)
Brandon Mitchener
+32 (2) 233 1113
media@firstsolar.com
Xavier Bossaert / Bertrand Paul (Burson Marsteller)
+33 1 41 86 76 76
xavier.bossaert@bm.com, bertrand.paul@bm.com
or
First Solar - Media Relations (USA)
Lisa Morse
+1 (602) 414-9361
media@firstsolar.com
or
First Solar - Investor Relations
Larry Polizzotto
+1 (602) 414-9300
investor@firstsolar.com