Press release
Intersect Power Orders 2.4 GW of First Solar’s High-Performance Modules
Intersect Power expected to be one of the largest buyers and operators of First Solar technology by 2027 TEMPE, Ariz., July 28, 2022 (GLOBE NEWSWIRE) --
About this update from First Solar, Inc.
[{"type":"text","content":"Intersect Power expected to be one of the largest buyers and operators of First Solar technology by 2027\nTEMPE, Ariz., July 28, 2022 (GLOBE NEWSWIRE) -- US-headquartered First Solar, Inc. (Nasdaq: FSLR) announced that it has entered into an agreement to supply 2.4 gigawatts (GW)DC of its high-performance, advanced thin film photovoltaic (PV) solar modules to Intersect Power, LLC (“Intersect Power”). The modules are scheduled to be delivered from 2024 to 2026, making Intersect Power, which previously placed orders for a total of 4.1 GWDC, in 2019 and 2021, one of the world’s largest buyers and operators of First Solar’s responsibly-produced module technology with approximately 6.4 GWDC expected to be deployed by 2027. The modules will be deployed in Intersect Power’s solar, storage, and green hydrogen projects coming online across the United States in 2025 through 2027. A large proportion of the modules are expected to be produced in First Solar’s Northwest Ohio manufacturing complex. “Intersect Power’s ongoing relationship with First Solar has been critical in rapidly scaling our business to meet our vision and reliably delivering our customers value and performance to support their decarbonization goals,” said Sheldon Kimber, chief executive officer, Intersect Power. “We look forward to bringing this large-scale portfolio to operation, and creating good-paying, American jobs in both construction and manufacturing with First Solar’s domestically-produced modules.” 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. The modules have a carbon footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China. First Solar also operates an advanced high-value recycling program, which recovers approximately 90 percent of Cadmium Telluride (CadTel) semiconductor material which can be used to manufacture new modules, as well as other materials including aluminum, glass, and laminates. The company currently operates commercial recycling facilities in the US, Germany, Malaysia, and Vietnam. Additionally, First Solar is the only company a...