First Solar Acquires 150 MWac Solar Gen 2 Photovoltaic Power Project

  First Solar Acquires 150 MWac Solar Gen 2 Photovoltaic Power Project

Imperial County Solar Plant Expected Online in 2014

Business Wire

TEMPE, Ariz. -- April 01, 2013

First Solar, Inc. (Nasdaq: FSLR) has acquired the 150-megawatt[AC] (MW) Solar
Gen 2 power project from an affiliate of The Goldman Sachs Group, Inc. (NYSE:
GS), Energy Power Partners and a third equity partner for the project.
Construction of the facility, which is located in Imperial County, Calif.,
near El Centro, is expected to start this year and be completed in 2014.

The photovoltaic (PV) solar plant will generate enough electricity to power
more than 60,000 average California homes, displacing more than 115,000 metric
tons of CO[2] per year (the equivalent of taking 22,000 cars off the road) and
saving 93,000 metric tons of water per year.

The electrical output of the project will be purchased by San Diego Gas &
Electric Company (SDG&E) under a 25-year power purchase agreement. Solar Gen 2
is expected to provide on average more than 800 construction jobs in Imperial
County, an area currently suffering from high unemployment.

“We are very pleased to help SDG&E meet its clean energy goals and provide
clean, reliable, renewable power to their customers,” said Dana Diller, First
Solar Vice President of U.S. Business Development. “We are also proud to once
again bring the economic benefits of utility-scale solar development to
Imperial County, where both county officials and the Imperial Irrigation
District, with which this plant will interconnect, have been extremely
supportive.”

“We are delighted to transition Solar Gen 2 to First Solar, one of the world’s
leading solar companies. First Solar shares our vision of providing clean
energy for California and green jobs for Imperial Valley, one of the most
economically challenged areas in the country,” said Steve Zaminski, CEO of
Solar Gen 2 and owner of Energy Power Partners. “We are grateful to SDG&E, the
Imperial Irrigation District, the County of Imperial and the California Public
Utilities Commission for their leadership and support in contributing to the
successful outcome of this development effort.”

Financial terms were not disclosed. The acquisition includes 40 MW[DC] of
solar modules that the project previously purchased from another supplier,
which will be integrated into the installation. First Solar will supply the
balance of modules for the power plant, along with its project development,
engineering, procurement and construction (EPC), and grid integration
services.

About First Solar

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 recycling, First Solar’s renewable energy
systems protect and enhance the environment. For more information about First
Solar, please visit www.firstsolar.com.

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.

Contact:

First Solar media
Ted Meyer
+1-602-427-3318
ted.meyer@firstsolar.com
or
First Solar Investors
David Brady
+1-602-414-9315
dbrady@firstsolar.com
or
Ryan Ferguson
+1-602-414-9315
rferguson@firstsolar.com
or
Goldman Sachs media
Tiffany Galvin
212-357-0019
Tiffany.galvin@gs.com
or
Energy Power Partners media
Steve Zaminski
szaminski@solargen2.com
 
Press spacebar to pause and continue. Press esc to stop.