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First Solar
First Solar Begins Operation of 250 Megawatt Moapa Southern Paiute Solar Project



March 20, 2017

Today (3/17), First Solar, Inc. (Nasdaq: FSLR) and the Moapa Band of Paiutes joined Sen. Dean Heller, Sen. Catherine Cortez Masto, Nevada State Energy Office Director Angela Dykema, Clark County Commissioner Marilyn Kirkpatrick, executives from the Los Angeles Department of Water and Power (LADWP) and other community and energy industry leaders to celebrate the commissioning of the Moapa Southern Paiute Solar Project. Officials from the U.S. Department of Energy, the Bureau of Land Management and the Bureau of Indian Affairs also participated in this event.

The Moapa Southern Paiute Solar Project is a 250 Megawatt (MW) AC solar energy project capable of generating enough clean energy to power an estimated 111,000 homes. Located on the Moapa River Indian reservation approximately 30 miles north of Las Vegas, this facility is the first-ever utility-scale solar power plant to be built on tribal land and has a long-term power purchase agreement (PPA) with LADWP to bring clean, renewable energy to Los Angeles residents.

"I'm proud to see the day has finally arrived to commission the Moapa Southern Paiute Solar Project. The tribe is truly embarking on a new journey while serving as a trendsetter with this venture. This project is the first and largest utility-scale solar plant on tribal lands. Nevada is no stranger to successful solar projects, and this is another great example of that. Again, congratulations to the tribe on its impending success," said United States Senator Dean Heller.

"There is no doubt renewable energy is the way of the future for energy sustainability, and Nevada has the unparalleled natural resources to be a national leader in investment and development of clean energy technology and job creation," said Senator Catherine Cortez Masto. "The Moapa Southern Paiute Solar Project is the perfect example of this great potential. I will continue to fight for commonsense policies and projects like this one to reduce our dependence on fossil fuels, invest in clean energy, and create good paying jobs."

For the Moapa Band of Paiutes, this solar energy project has proven to be an ideal economic development opportunity, providing lease revenues over the lifetime of the project and about 115 construction jobs for tribal members and other Native Americans, while also preserving their land and cultural heritage.

"As a first-of-its-kind project, the Moapa Southern Paiute Solar Project signifies our role as a leader in Indian Country, creating a template for other tribes to follow," said Darren Daboda, Chairman of the Moapa Band of Paiutes Tribal Council. "If our small tribe can accomplish this, then others can also. There are endless opportunities in renewable energy, and tribes across the nation have the perfect areas in which to build utility-scale projects."

The Moapa Southern Paiute Solar Project, constructed and operated by First Solar, features more than 3.2 million advanced First Solar thin film photovoltaic (PV) solar panels. This equates to more than 25 million square feet of solar panels, or enough to cover more than 450 NFL football fields. The energy will serve LADWP under a 25-year PPA.

"We look forward to doing more projects like this in Nevada," said Georges Antoun, Chief Commercial Officer for First Solar. "Our PV technology is setting the standard for affordable, clean renewable energy. By continuously innovating, we are driving down the cost of solar electricity and providing a solution that addresses energy security and water scarcity. We are delivering on our commitment to build a more sustainable energy future."

By using renewable energy from the sun, this project will avoid approximately 341,000 metric tons per year of carbon dioxide emissions that would have been produced if the electricity had been generated using fossil fuels - the equivalent of taking nearly 73,000 cars off the road. First Solar's technology creates no air or water pollution and uses no water to generate electricity.

"We are very excited to begin receiving this clean renewable energy from the Moapa Southern Paiute Solar Project, which will significantly help the City of Los Angeles to achieve 33 percent of all energy from renewable resources by 2020 and 50 percent by 2025," said Reiko A. Kerr, Senior Assistant General Manager, LADWP Power System."

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. www.firstsolar.com

About Moapa Band of Paiutes

The Moapa Band of Paiutes is part of the Southern Paiute Nation with a mission to preserve its homeland, particularly the 72,000 acre Moapa River Indian Reservation, by building an independent and self-governing community and providing opportunities for economic, educational and cultural growth. The Paiutes respect and honor the land and all living things upon it, and the tribe has the ability to be a front runner in the clean energy field. The tribe also operates farms, the Moapa Travel Plaza, a sand and gravel operation and has other future plans for expansion at the Valley of Fire area.

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 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 technology and 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.

For more information:

Organization:
First Solar, Inc.
Address:
350 W Washington St
Tempe, Arizona
United States, 85281-1244
www.firstsolar.com
Tel: 419-662-6899

Contact:
Bill Marion
First Solar Media
Tel: +1 702-222-2362 or +1 702-283-0813


Link http://www.electricenergyonline.com/detail_news.php?ID=627416
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