First Solar, Inc. (Nasdaq: FSLR) announced that Photosol, a French photovoltaic (PV) solar energy company, has selected its high performance, lower-carbon, thin film modules to power 14 utility-scale solar power plants with a total capacity of 106.5 megawatts (MW)DC. The projects - developed and owned by Photosol - are part of the third procurement round initiated by France's Commission de Régulation de l'Energie.
The power plants will be located in central and southwest France, and will range from 4.5MW to 43MW in capacity. The largest project will be located in Burgundy, with Jayme da Costa Energie, a French subsidiary of Jayme da Costa Group, a leading Portuguese engineering firm, providing the Engineering, Procurement and Construction (EPC) for all the projects.
When completed, the plants are expected to supply almost 134,000 megawatt-hours (MWh) of electricity to the French electricity grid in their first year of operation; enough electricity to power 23,000 average French households and to displace 5,000 metric tons of carbon dioxide per year. The plants' collective environmental footprint will be lowered by approximately 67 percent, thanks to their use of First Solar's high performance modules, which offer the smallest carbon footprint, fastest energy payback time and lowest water use of all solar technologies.
"As France continues to drive a sustained renewable energy program to meet its CO2 reduction goals, while reliably addressing its energy needs, we see a huge opportunity for utility-scale solar to make a significant contribution by delivering reliable and affordable clean electricity," said David Guinard, Managing Director of Photosol. "Our decision to select First Solar's thin film modules was not only driven by the cost-competitiveness and proven performance advantage, but also by the significant environmental benefits that its module technology offers."
These projects bring Photosol's total portfolio of PV plants, powered by First Solar modules, to almost 155MW. Upon completion, they will take First Solar's total installed capacity in Europe up to approximately 4.5GW.
"The progressive French policy on reducing the carbon footprint of its solar energy program has set a new benchmark and serves as a precedent for other countries to follow. It is a clear demonstration of how evaluating the environmental footprint can be effectively embedded in a competitive bidding process," said Stefan Degener, Regional Head of Business Development at First Solar. "We congratulate Photosol on their success, and thank both Photosol and Jayme da Costa for their continued confidence in First Solar and our technology."
With over 13,500MW of PV modules sold worldwide, First Solar is a global leader in providing comprehensive PV solar systems powered by its advanced thin film modules. First Solar's presence in Europe dates back to 2004, and the company continues to be a leading player in the region's utility-scale PV market.
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.
Photosol, founded in 2008, is an independent renewable energy producer specialized in large photovoltaic (PV) power plants (between 8 to 12 MW each). The Company is present across the whole value chain as it develops, finances, builds and operates photovoltaic power plants in France. As of end of 2016, Photosol has invested nearly 300 million, with 143MW of projects in operation, 106MW of projects in construction and a pipeline of more than 250MW. In 2017 and 2018, Photosol intends to build and operate additional 100MW. For more information, please visit www.photosol.fr.
About Jayme da Costa Group
Throughout its 100 years of activity, Jayme da Costa has become one of the most respected companies within the engineering area. Its achievements within the site civil, mechanical and electric installations, as well as the conception and the manufacturing of LV and MV electric equipment, have fostered its national and international recognition. Working in renewable energies projects since the1980s across Europe, Africa, Latin and South America, Jayme da Costa Group and its regional branches has installed, participated and/or commissioned over 500 MW of solar power plants, 3.5 GW of wind power and 300 MW of small hydro power stations. For our new century that starts, Jayme da Costa Group has a refreshing energy, aiming for the decarbonizing of the energy sector by developing new markets, focusing on new skills and solutions in order to achieve the overall objectives at the highest level.
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.
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For Jayme da Costa
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