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First Solar to Build New Mexico Solar Projects Totaling 23MW for PNM



  First Solar to Build New Mexico Solar Projects Totaling 23MW for PNM

Business Wire

TEMPE, Ariz. -- July 24, 2013

First Solar, Inc. (Nasdaq: FSLR) announced today an agreement with Public
Service Company of New Mexico (PNM) to construct three solar power plants
totaling 23 megawatts (MW)[AC] of generating capacity. Under the agreement,
First Solar is expected to provide engineering, procurement and construction
(EPC) services, using its advanced thin-film photovoltaic (PV) modules. PNM is
the largest electrical provider in New Mexico, serving more than 500,000
customers in dozens of communities across the state.

Contingent on approval from the New Mexico Public Regulation Commission, which
PNM filed for earlier this month, the agreement establishes terms for the
plants’ EPC work. The projects are part of PNM’s 2014 portfolio of renewable
energy resources. These new projects are in addition to five plants completed
in 2011 and an additional 21.5 megawatts of solar PV to be completed this
year; all totaling 67MW[AC ]that First Solar has contracted or is expected to
construct with PNM by the end of 2014.

The three projects, once approved, are expected to begin construction and be
completed in 2014. Up to 300 local construction jobs are expected at peak.

“We are very pleased to be working with PNM on these new projects,” said Dana
Diller, First Solar’s Vice President of U.S. Business Development. “PNM and
the State of New Mexico continue to make great strides in meeting their
renewable energy goals, and First Solar is excited to play a significant role
in that effort.”

The solar plants in aggregate will generate enough clean energy to power up to
8,960 average New Mexico homes, displacing about 25,300 metric tons of CO[2]
annually– the equivalent of taking some 5,270 cars off the road, and
displacing up to 14.5 million gallons of water consumption annually.

About First Solar

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.

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
Steve Krum
+1 602-427-3359
steve.krum@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
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