Savion Expands as Independent Power Producer, Orders 2.6 GW of Responsibly Produced Ultra-Low Carbon First Solar Modules

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[{"type":"text","content":"\nMulti-year order for Series 7 thin film solar modules with deliveries from 2025 to 2027\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nSavion, LLC (Savion) today announced the agreement to purchase 2.6 gigawatts (GWdc) of high-performance, responsibly produced Series 7 thin film solar modules from First Solar, Inc. (Nasdaq: FSLR). The deal with Savion was booked prior to the release of First Solar’s Q3 2022 earnings in October 2022, and the modules are scheduled to be delivered between 2025 and 2027.\n\nThe passing of the Inflation Reduction Act (IRA) has been a critical component in Savion’s commitment to supporting the expansion of the manufactured renewables supply chain in the United States. The IRA strongly contributed to the agreement between Savion and First Solar, the only U.S.-headquartered company among the world’s largest solar manufacturers.\n\nFirst Solar is expanding its U.S. manufacturing capacity, with a third factory expected to come online in Ohio in the first half of 2023 and a fourth factory under construction in Alabama expected to be commissioned by 2025. Both factories will produce the Series 7 modules ordered by Savion. First Solar’s new $1.1 billion Alabama factory and $185 million expansion of its existing manufacturing footprint in Ohio are expected to bring its total investment in American manufacturing to more than $4 billion. The company’s annual U.S. nameplate manufacturing capacity is forecast to expand to 10.6 GWdc by 2026. First Solar also announced a $270 million investment in a dedicated research and development (R&D) innovation center in Perrysburg, Ohio, expected to be completed in 2024.\n\n“As we accelerate our efforts to support America’s energy transition, we’re excited to move to an Independent Power Producer model,” said Nick Lincon, president of Savion and vice president of Onshore Renewables North America, Shell. “Our agreement with First Solar provides the certainty we need to execute our strategy. They share our values and strategic vision for increased domestic production efforts. Our team looks forward to working with the new Series 7 module, benefitting from its enhanced efficiencies and performance.”\n\nDeveloped in close collaboration with Engineering, Procurement, and Construction (EPC) companies and structure and component providers, First Solar’s Series 7 modules combine the com...

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