BEIJING, Jan 05, 2011 (BUSINESS WIRE) --First Solar, Inc. (Nasdaq: FSLR) and China Guangdong Nuclear Solar
Energy Development Co., Ltd. (CGN SEDC) today signed a memorandum of
understanding (MOU) to collaborate on the development of Phase 1 of the
previously announced solar photovoltaic (PV) plant in Ordos, Inner
Mongolia. The agreement represents an important step forward for the
Ordos project, following First Solar's MOU with the Ordos Government in
September, 2009, and the Chinese government's recent approval of the
pre-feasibility study for Phase 1 in September 2010. First Solar
President Bruce Sohn and CGN SEDC President Han Qinghao signed the MOU
at a ceremony in Beijing today.
Under the terms of the MOU, First Solar and CGN SEDC will work together
to execute the 30 MW AC first-phase demonstration project. CGN SEDC will
be the majority project owner and operator, performing the engineering,
procurement and construction (EPC) functions for the project. First
Solar will supply its advanced thin-film solar PV modules to the project
and will support CGN SEDC with EPC and O&M advisory services.
"First Solar is honored to be working on the Ordos project with CGN
SEDC, a company with demonstrated leadership, expertise and experience.
We look forward to working together to make the Ordos project a reality
and to contributing to China's renewable energy goals and market
development," said Sohn.
"We are very pleased to be partnering with First Solar, a global leader
in solar PV technology, in developing the first significant solar
project to adopt advanced thin-film technology in China," commented Han
Qinghao.
The Ordos project represents the first large-scale solar collaboration
between China and the United States and an example of China-U.S.
bilateral cooperation on renewable energy.
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 Guangdong Nuclear
Solar Energy Development Co., Ltd. of China Guangdong Nuclear Power
Group (CGN SEDC) was established in August 27, 2009. As a wholly-owned
subsidiary of China Guangdong Nuclear Power Group, CGN SEDC focuses on
solar power investment, construction, operation and maintenance, and is
actively involved in related industries. By the end of 2010, CGN SEDC
completed construction of solar facilities capable of producing 20MW,
and is currently in the process of constructing facilities with a
capacity of 70 MW. For more information about CGN-SEDC, please visit http://www.cgnsedc.com.cn.
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. and CGN SEDC
China
Huang Xue
+8610-5816-2555
Xue.Huang@bm.com
or
First Solar, Inc.
United States
Alan Bernheimer
602-414-9361
media@firstsolar.com
or
Europe
Brandon Mitchener
+49-6131-1443-399
media@firstsolar.com