First Solar Partners with Zhenfa on Thin-film PV Demonstration Project in
First Solar to Supply 2 MW of Advanced Thin-Film Modules
BEIJING -- December 03, 2012
First Solar, Inc. (Nasdaq:FSLR) has completed an agreement with Zhenfa New
Energy Science & Technology Co., Ltd. to supply 2 megawatts (MW) of First
Solar’s advanced thin-film solar modules to one of Zhenfa’s approved solar
projects in Xinjiang province in the first quarter of 2013. The collaboration
will create First Solar’s first commercial demonstration project in China and
provide a strong platform to showcase the company’s state-of-the-art
photovoltaic (PV) technology.
“This agreement marks an important step forward in First Solar’s efforts to
support China’s renewable energy goals with its advanced solar technologies
and global solar industry expertise,” said Bruce Yung, Managing Director and
Vice President of Business Development for First Solar in China. “We are
excited to work with a strong partner like Zhenfa to demonstrate our advanced
thin-film technology. I expect this will be the first of many opportunities
for collaboration between First Solar and leading Chinese companies, both
within China and globally.”
“We are very happy about our partnership with First Solar, which is providing
its world-class PV technology to one of our key projects. By sharing
experience, expertise and technologies we are creating a very strong
combination. We look forward to exploring additional opportunities to work
together to generate clean, renewable energy for China and the world,” said
Zha Zhengfa, Chairman of Zhenfa.
Yung added: “An important element of First Solar’s business strategy is to
work with Chinese partners to create shared value both in China and abroad.
The agreement between First Solar and Zhenfa will serve as a positive example
of win-win collaboration between leading renewable energy companies from China
and the United States.”
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic (PV)
solar systems which use its advanced thin-film modules. 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 collection and recycling, First Solar’s
renewable energy systems protect and enhance the environment. For more
information about First Solar, please visit www.firstsolar.com.
About Zhenfa New Energy Science & Technology Co., Ltd.
Founded in 2004, Zhenfa New Energy Science & Technology Co., Ltd. (Zhenfa New
Energy) is one of the largest providers of integrated PV power generation
systems in China. The company had an installed capacity of 410 MW by the end
of 2011, and plans to increase its installed capacity to 1100 MW by March
2013. Zhenfa brings new power to every PV power station in an innovative way –
in eastern China, the company constructs fishing-solar complementing
integrated power stations on coastal mud flats and fish ponds, and combines
solar facilities with local agriculture; in western China, the company helps
to resolve desertification and increase incomes of local residents by
developing PV power stations to gain both economic and social benefits. The
self-adaptive single-axis solar tracking system, which is independently
developed by Zhenfa, can increase energy efficiency of the power generation
system and help to achieve solar power grid parity.
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.
Burson-Marsteller for First Solar (China)
+8610 5816 2555
First Solar Investors
+1 602 414-9315
+1 602 414-9315
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