March 17, 2014
First Solar, Inc. (Nasdaq: FSLR) announced the completion of the 1.3MW(DC) solar photovoltaic (PV) power plant at Kitakyushu-shi. Powered by First Solar FS Series 3 Black PV modules, the plant will generate approximately 1,400 MWh of clean and safe solar electricity per year. Power from the project will be purchased by Kyushu Electric Power Company.
'Japan has ambitious solar power development goals to help mitigate the dependency on nuclear energy,' said Joe Kishkill, First Solar's Chief Commercial Officer. 'The completion of the Kitakyushu-shi project supports that commitment along with providing electricity users with a fuel alternative that is safe, can be rapidly deployed, and has the smallest carbon footprint.'
The project had a workforce of approximately 65 construction jobs at its peak, building local capability to construct similar clean and safe solar power projects in the future.
First Solar holds 100 percent equity in the project. Obayashi Corporation and Yaskawa Electric Corporation constructed the project. Nippon Sheet Glass supplied the advanced technology glass used in the PV modules.
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 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: 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, warranties, solar module efficiency and balance of systems ("BoS") cost reduction roadmaps, restructuring, product reliability 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 photovoltaic (PV) solar power systems; research and development programs and our ability to improve the conversion efficiency of our solar modules; 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," "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 Annual Report on Form 10-K for the year ended December 31, 2012, as updated and supplemented by risk factors included in our Prospectus dated June 12, 2013 filed with the SEC pursuant to Rule 424(b)(5) (the "Prospectus"), Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC.
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