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First Solar Announces 20-Megawatt Maryland Solar Project

March 14, 2012

TEMPE, Ariz.--(BUSINESS WIRE)-- First Solar, Inc. (Nasdaq: FSLR) today announced its 100 percent stake in Maryland Solar, a 20-megawatt (AC) photovoltaic (PV) solar power project in Hagerstown, Md.

The project, which has a contract to sell electricity and renewable energy credits to FirstEnergy Solutions, is expected to start construction in Q2 2012 and be completed in Q4 2012. It will use First Solar's advanced thin film PV modules to generate enough clean, renewable energy to power approximately 2,700 average Maryland homes, displacing approximately 23,000 metric tons of CO2 annually—the equivalent of taking 4,400 cars off the road each year.

"First Solar is pleased to continue its work in Maryland to help the state meet its renewable energy goals," said Frank De Rosa, First Solar Senior Vice President for business development — the Americas. "We are excited about moving forward on this project, which is expected to provide 125 construction jobs."

About First Solar, Inc.

First Solar manufactures solar modules with an advanced semiconductor technology, and is a premier provider of 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 value-driven renewable energy solutions that 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 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, Inc.
Media:
Alan Bernheimer, 415-935-2499
PR Director, Americas
media@firstsolar.com
or
Investors:
David Brady, 602-414-9315
Vice President, Investor Relations
dbrady@firstsolar.com
or
Luke Fairborn, 602-414-9315
Director, Investor Relations
lucas.fairborn@firstsolar.com
or
Michelle Pereira, 602-414-9315
Manager, Investor Relations
michelle.pereira@firstsolar.com

Source: First Solar, Inc.

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