October 29, 2015
Strata tops 1GW of business with First Solar
Projects in development demonstrate confidence in US utility-scale
market
TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) has signed an agreement with Strata
Solar for the procurement of an incremental 400 megawatts (MW)DC
of First Solar's advanced thin film photovoltaic modules, with delivery
expected from 2017 into 2018.
With this agreement, Strata - one of the top utility-scale solar project
developers and builders in the United States - will have purchased more
than 1,000 MWDC from First Solar in a long-standing
relationship between the two major players in the solar industry.
'We are pleased to be extending our relationship with First Solar,' said
Markus Willem, CEO of Strata Solar. 'Strata has a relentless focus on
quality, efficiency, and flawless execution, so it's critical for us to
have world-class technology partners like First Solar.'
'This deal shows confidence in the continued strength of the
utility-scale solar market in the U.S.,' said Georges Antoun, First
Solar's President, U.S. 'We are excited by Strata's ongoing commitment
to First Solar as a source of high-performance technology that provides
a competitive edge in their project portfolio.'
Antoun said the agreement demonstrates the sustainability of
utility-scale project development. 'We see ongoing opportunity for
continued growth over the next several years,' he said.
Antoun noted that First Solar has now sold more than 1.8GW of modules in
the U.S. Southeast, with modules either sold to outside developers, EPC
contractors, or used in First Solar's own projects.
Strata expects to install the modules in a series of solar projects in
the southern and eastern U.S.
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.
About Strata Solar, LLC
Strata Solar is a leading provider of utility-scale, commercial, and
industrial solar photovoltaic (PV) systems. The company's integrated
approach, which includes development, financing, engineering,
procurement, construction, operations, and maintenance, allows Strata to
consistently build quality projects while continuously driving down
costs. Strata was recently ranked as one of the four largest
utility-scale solar PV integrators in the U.S.
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, 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 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
most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports filed with the SEC.
View source version on businesswire.com : http://www.businesswire.com/news/home/20151029006481/en/
First Solar MediaSteve Krum
+1 602-427-3359
[email protected]
or
First
Solar InvestorsStephen Haymore
+1 602-414-9315
[email protected]
or
Strata
Solar Media
Brian O'Hara
+1 919-960-6015
[email protected]
Source: First Solar, Inc.
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