Press release
First Solar, Akuo in 500MW Global Supply Agreement for Advanced Thin Film Modules
Multi-year agreement would see deliveries from 2024 to 2026 for US and international projects TEMPE, Ariz. and PARIS, July 25, 2022 (GLOBE NEWSWIRE) -- First
About this update from First Solar, Inc.
[{"type":"text","content":"Multi-year agreement would see deliveries from 2024 to 2026 for US and international projects\nTEMPE, Ariz. and PARIS, July 25, 2022 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that Akuo, a Paris-headquartered independent global renewable energy producer and developer, has placed an order for 500 megawatts (MW)DC of responsibly-produced thin film photovoltaic (PV) solar modules. Under the agreement, First Solar will supply 200 MWDC for a utility-scale project developed by Akuo in the United States, with delivery scheduled for the first half of 2024. The remaining modules are expected to be delivered in 2025 and 2026, potentially powering projects in Europe or other regions where Akuo is present. Founded in 2007, Akuo is a leading renewable energy developer with a presence in 15 countries, including the US, Spain, Greece, and Portugal. The company ended 2021 with 1.4 gigawatts (GW) of assets in operation or under construction and a project development pipeline of over 7 GW. The deal, which leverages First Solar’s agile contracting approach, allows Akuo to benefit from the evolution of First Solar’s advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. “The solar industry operates against a backdrop of volatility and uncertainty, and this agreement is part of a broader effort to reduce the long-term supply risks of our global portfolio to actually deliver our projects,” said Eric Scotto, chief executive officer, Akuo. “First Solar’s ability to provide supply chain traceability and its commitment to responsible manufacturing was crucial to us. It leads the industry with its long history of establishing benchmarks in supply chain transparency and the low environmental footprint of its technology, all of which reflects our shared value of responsible business practices. As a European player, we are strongly committed to these values echoing our ambition for the planet.” Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly-produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. First Solar also operates an advanced high-value recycling program, which recovers approximately 90 percent of Cadmium Telluride (CadTel)...