TOKYO--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) announced today that it has obtained
non-recourse project debt financing of approximately 27 billion yen
(US$240 million) in a syndicated loan arranged by Mizuho Bank Ltd. for a
utility-scale solar project in Ishikawa prefecture, Japan. This
financing arrangement demonstrates First Solar's technology, project
development, operations and maintenance, and project financing
capabilities for utility-scale solar projects in Japan.
The Ishikawa Sogo Solar Power Plant, with a generation capacity of 59.5
megawatt (MW)AC, will be one of the largest mega solar
projects in the Hokuriku region. Once complete, it is expected to
provide enough clean energy to serve the needs of around 17,500 average
Japanese homes, displacing approximately 35,000 metric tons of carbon
dioxide per year.
First Solar is committed to the development of Japan's utility-scale
solar industry. Together with the existing construction loan of up to 4
billion yen (US$33 million) financed by Mizuho Bank in Japan, First
Solar is well positioned to develop, construct and operate various
utility-scale solar projects, and provide integrated energy solutions
that contribute to a safe and reliable energy mix in Japan.
Solar power plays a significant role in Japan's renewable energy
strategy and the availability of project debt financing will further
bolster utility-scale solar development to meet the unique energy needs
in Japan.
The Ishikawa Sogo Solar Power Plant is scheduled to commence operation
in late 2018.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
The company's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar's renewable energy systems protect and enhance the environment.
For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant
to safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: effects on our financial statements and
guidance resulting from certain module manufacturing changes and
associated restructuring activities; our business strategy, including
anticipated trends and developments in and management plans for our
business and the markets in which we operate; future financial results,
operating results, revenues, gross margin, operating expenses, products,
projected costs (including estimated future module collection and
recycling costs), warranties, solar module efficiency and balance of
systems cost reduction roadmaps, restructuring, product reliability,
investments in unconsolidated affiliates and capital expenditures; our
ability to continue to reduce the cost per watt of our solar modules;
our ability to reduce the costs to construct PV solar power systems;
research and development programs and our ability to improve the
conversion efficiency of our solar modules; our ability to expand
manufacturing capacity worldwide; sales and marketing initiatives; and
competition. These forward-looking statements are often characterized by
the use of words such as "estimate," "expect," "anticipate," "project,"
"plan," "intend," "seek," "believe," "forecast," "foresee," "likely,"
"may," "should," "goal," "target," "might," "will," "could," "predict,"
"continue" and the negative or plural of these words and other
comparable terminology. Forward-looking statements are only predictions
based on our current expectations and our projections about future
events. You should not place undue reliance on these forward-looking
statements. We undertake no obligation to update any of these
forward-looking statements for any reason. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to differ materially from those expressed or
implied by these statements. These factors include, but are not limited
to, the matters discussed in Item 1A: "Risk Factors," of our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other
filings with the Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170221006523/en/
First Solar Media
Burson-Marsteller
Eiko Aiba, Akiko Nishimura
+81
03-3264-6701
Email: FirstSolarJP.PR@bm.com
or
First
Solar Media
Jennifer Abbott
+61 2 9002 7736
Jennifer.Abbott@FIRSTSOLAR.COM
or
First
Solar Investors
Stephen Haymore
+1 602-414-9315
Stephen.Haymore@FIRSTSOLAR.COM
Source: First Solar, Inc.
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