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First Solar to Build 250MW Power Plant in California for NextEra Energy Resources



  First Solar to Build 250MW Power Plant in California for NextEra Energy
  Resources

Business Wire

TEMPE, Ariz. -- October 16, 2013

First Solar, Inc. (Nasdaq: FSLR) announced today it has entered into an
agreement to construct a 250 megawatt (MW)[AC] solar power plant in Riverside
County, California, for a subsidiary of NextEra Energy Resources, LLC.

The McCoy Solar Energy Project will be located on approximately 2,300 acres of
mostly public land provided by the Bureau of Land Management (BLM)
approximately 13 miles northwest of Blythe, California. Under the agreement,
First Solar will provide Engineering, Procurement and Construction services,
using First Solar’s cadmium telluride (CdTe) photovoltaic thin-film modules.

The project is located near the 550MW[AC] Desert Sunlight Solar Farm, jointly
owned by a subsidiary of NextEra, GE Energy Financial Services, and Sumitomo
Corporation of America, currently under construction by First Solar. An
affiliate of NextEra Energy Resources also previously purchased two projects
built by First Solar in Canada.

“First Solar is pleased to have this opportunity to work again with NextEra,”
said Roger Bredder, First Solar’s Director of Business Development for the
U.S. “And we are proud to continue providing jobs in Riverside County.”

Construction is expected to begin in late 2014, with completion in late 2016.
The project will provide up to 400 construction jobs at peak operation.

The McCoy Solar Energy Project construction award reaffirms First Solar’s
position as one of the world’s leading developers and builders of PV solar
power systems. The company was recently ranked as the second largest
contractor in the global power sector by Engineering News-Review.

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
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 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 Annual Report on Form 10-K for the year ended December
31, 2012, as updated and supplemented by risk factors included in our
Prospectus dated June 12, 2013 filed with the SEC pursuant to Rule 424(b)(5)
(the “Prospectus”), Quarterly Reports on Form 10-Q, Current Reports on Form
8-K and other reports filed with the SEC.

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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