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First Solar to Deliver 155MW of Solar Power Projects for AGL Energy



  First Solar to Deliver 155MW of Solar Power Projects for AGL Energy

Utility-scale solar PV projects expected to meet the needs of over 50,000
average NSW homes

Business Wire

SYDNEY -- July 30, 2013

First Solar (NASDAQ: FSLR) today welcomes the news that AGL Energy Limited
(AGL) has achieved financial close for two utility-scale solar photovoltaic
(PV) projects. First Solar has executed engineering, procurement and
construction (EPC) contracts to supply the projects with its advanced
thin-film photovoltaic (PV) modules and provide EPC services. In addition,
First Solar will provide maintenance support for a period of five years once
the solar farms are operational.

AGL has engaged First Solar to construct a 102MW [AC] solar plant at Nyngan
and a 53MW solar project at Broken Hill – both located in New South Wales. The
projects are supported by $166.7 million of Commonwealth Government funding
through the Australian Renewable Energy Agency (ARENA) as well as an
additional $64.9 million in funding from the NSW Government. The total project
cost is approximately $450 million.

“The Nyngan and Broken Hill solar projects will be Australia’s largest
utility-scale solar projects, respectively, and demonstrate that utility-scale
solar is a proven, bankable source of power generation in Australia today,”
said Jack Curtis, First Solar’s Vice President of Business Development for
Asia Pacific. “We are thrilled to be partnering with AGL in delivering the
solar projects, both of which are of major significance for regional New South
Wales and the Australian energy sector. These projects will play an important
part in the growing acceptance of utility-scale solar PV, and we applaud the
Commonwealth Government and the NSW Government for their vision and commitment
to the sector.”

Construction of the Nyngan project is expected to commence in January 2014,
with commercial operation expected by mid-2015. Construction of the Broken
Hill project will start approximately six months later, in July 2014, and is
scheduled to reach commercial operation before the end of 2015. On completion,
the projects are expected to produce approximately 360,000 megawatt hours of
electricity each year, which will be sufficient to meet the needs of over
50,000 average homes in NSW.

The Nyngan and Broken Hill solar plants are expected to provide significant
value to regional New South Wales, adding nearly two percent to the gross
regional product of each community. First Solar is actively engaged with local
companies looking to become involved in the projects, with over 100 local
contractors attending the recent subcontractor forums hosted in Dubbo, Nyngan
and Cobar. The projects will create approximately 300 construction jobs in
Nyngan and approximately 150 in Broken Hill, providing valuable experience and
capability to support the development of similar projects in future years.

“AGL is delighted to be working with First Solar and drawing on the team’s
global expertise in this industry,” said Michael Fraser, AGL’s Managing
Director. “We are eager to get this nationally significant project underway,
and together we will provide the experience and commercial stability to help
ensure the successful construction of the two solar plants.”

About First Solar, Inc.

First Solar, Inc. is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. First Solar
(Australia) Pty Ltd is a wholly owned subsidiary of First Solar, Inc. First
Solar'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.

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.

About AGL

AGL is one of Australia's leading integrated renewable energy companies, and
is taking action toward creating a sustainable energy future for our
investors, communities and customers. Drawing on 175 years of experience, AGL
operates retail and merchant energy businesses, power generation assets and an
upstream gas portfolio. AGL has one of Australia's largest retail energy and
dual fuel customer bases. AGL has a diverse power generation portfolio,
including base, peaking and intermediate generation plants, spread across
traditional thermal generation, as well as renewable sources including hydro,
wind, landfill gas and biomass. AGL is Australia's largest private owner and
operator of renewable energy assets, and is looking to further expand this
position by exploring a suite of low emission and renewable energy generation
development opportunities.

Contact:

First Solar Media:
Burson-Marsteller for First Solar
Carrie Cousins, +61 2 9928 1536
carrie.cousins@bm.com
or
First Solar, Inc.
Deepali Girdhar, +91 8800 843600
deepali.girdhar@firstsolar.com
or
First Solar Investors
David Brady, +1 602 414-9315
dbrady@firstsolar.com
Ryan Ferguson, +1 602 414-9315
rferguson@firstsolar.com
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