BEIJING--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) and China Power International New
Energy Holding Limited (CPINE), a wholly owned subsidiary of China Power
New Energy Development Company Limited (CPNE; HKEX Stock Code: 735),
today signed a strategic cooperation framework agreement to collaborate
on solar photovoltaic (PV) projects in China, the United States and
other international markets. China Power International Holding Limited
New Energy Development Supervisor, China Power New Energy Development
Company Limited CEO, China Power International New Energy General
Manager Liu Genyu and TK Kallenbach, President of First Solar's
Components Business Group, signed the agreement at a ceremony in Beijing
today with Madame Li Xiaolin, Chairwoman of China Power International
Holding Limited, CPNE and CPINE.
Under the terms of the agreement, First Solar and CPINE will initially
explore collaboration on solar PV projects in China and identify project
investment opportunities for CPINE in the U.S. and other global solar
markets, leveraging CPINE's role as a leading renewable energy developer
in China, including CPINE's planned 2 GW of solar in China by 2020, and
First Solar's expertise as a leading global solar PV technology company,
including its 2.4 GW pipeline in North America.
"We are very pleased to build an extensive and in-depth relationship
with First Solar, a global leader in solar PV technology. This
cooperation leverages our advantages in the domestic solar power
industry, and helps First Solar further expand its business presence in
China. In addition, we are happy to explore other cooperation
opportunities in different areas and through different methods with
First Solar, working together to further expand in the global market,"
said Madame Li. "Solar power offers tremendous growth potential in China
and the U.S."
"First Solar is very pleased to be expanding our commercial presence in
China by establishing this relationship with CPINE, one of the premier
clean energy state-owned companies in China and a leader in clean energy
development," said Kallenbach. "Both China and the U.S. are important
markets with vast potential for sustainable solar energy, and this
agreement can serve as a model for U.S.-China collaboration on renewable
energy. Our agreement with CPINE also includes the potential to expand
to other international markets, which could open up tremendous
opportunities."
About First Solar, Inc.
First Solar manufactures solar modules with an advanced semiconductor
technology and provides 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
cost-effective, renewable energy solutions that protect and enhance the
environment. For more information about First Solar, please visit http://www.firstsolar.com.
About China Power International New Energy
CPINE is a wholly owned subsidiary of China Power New Energy Development
Company Limited. CPNE is a company incorporated in Bermuda with limited
liability. The shares of CPNE are listed on the Main Board of The Stock
Exchange of Hong Kong Limited (stock code: 735). CPNE and CPINE are
committed to the development of environmentally-friendly energy
projects, including wind power, hydro-electric power, waste-to-energy
power, natural gas power and environmental protection-related projects.
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.
First Solar
United States
Ted
Meyer or Alan Bernheimer
+1-602-414-9361
media@firstsolar.com
or
Europe
Brandon
Mitchener
+49 (0) 6131-1443-399
media@firstsolar.com
or
China
Huang
Xue
Burson Marsteller
+8610-5816-2555
Xue.huang@bm.com
or
Investors
Larry
Polizzotto
+1-602-414—9315
lpolizzotto@firstsolar.com
or
Pam
Hegarty
+1-602-414-9315
phegarty@firstsolar.com
or
China
Power International New Energy
Rayven Chow
+852-3607-8820
rayvenchow@cpne.com.hk
Source: First Solar, Inc.
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