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First Solar signs long-term supply agreement with German utility-owned Pfalzsolar

Logo of First Solar, Inc. Image courtesy of First Solar, Inc.

First Solar Inc. recently announced the signing of a long-term supply contract with German solar developer Pfalzsolar GmbH, which is owned by the public utility Pfalzwerke AG of the German state of Rhineland-Palatinate.

Deliveries of the solar photovoltaic (PV) modules of First Solar to Pfalzsolar will begin immediately. The PV modules will be used for rooftop and free field solar installations in Germany. Terms of the agreement, or order sizes were not disclosed.

“This agreement reinforces First Solar’s relationships with utility-owned project developers and demonstrates that local utilities increasingly see photovoltaic power as a necessary component of their future electricity generation portfolio,” said managing director of First Solar GmbH Stephan Hansen.

“The agreement gives us the guarantee of being able to offer high-performance modules at competitive prices, thereby helping us fulfill our ambitious growth targets,” said managing director of Pfalzsolar GmbH Ali Boukhalfa.

First Solar is a vertically-integrated solar energy company that manufactures solar cells and modules, and also constructs utility-scale solar PV plants. First Solar announced the company’s involvement in separate projects with the US‘ largest and the world’s second largest PV plants (also located in Germany) in April this year. First Solar reached an industry-wide milestone of producing solar panels below the $1 per watt level. This milestone gives First Solar the standing of the lowest-cost solar PV panels in the international solar PV industry. Cost of production consistently dropped with the increase of production capacity. The company now has manufacturing facilities in the US, Germany, and Malaysia, with offices throughout North America and Europe. It was one of the first selected to be present in Masdar City, the carbon-free city in the UAE.

First Solar has also been able to reduce the environmental impact of its operations. Manufacturing involves no water, no air emissions, and no waste stream. First Solar also introduced a comprehensive collection and recycling program for solar modules, and it was able to recycle more than 90% of each collected module into new products. First Solar, Inc. is listed on the NYSE as FSLR, with stock up 3.56% at the close of the May 29 trading closing at $190.29.


-  Mike R. Lopez

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¹ http://www.firstsolar.com