Market Overview

First Solar Will Build 13MW Solar Plant in Dubai

First Solar (NASDAQ: FSLR) today announced it has been selected by the Dubai Electricity & Water Authority (DEWA) to construct a 13 megawatt (MW[DC]) solar photovoltaic (PV) power plant in Seih Al Dahal, approximately 50 kilometers south of Dubai. Under the terms of the agreement, First Solar will provide engineering, procurement and construction services, as well as its advanced thin-film PV modules.

The 13MW solar PV power plant is the first phase of the landmark Mohammad Bin Rashid Al Maktoum Solar Park, named after the leader of the Emirate of Dubai, an AED 12 billion project that is expected to eventually cover 48 square kilometers and produce 1,000MW of clean energy for the nation's capital using both PV and solar thermal technology.

“The PV plant installation is a key step in the implementation of the energy diversification strategy adopted by the Supreme Council of Energy, in which solar energy is set to become part of Dubai's energy portfolio. The strategy is based on Dubai's growing energy requirements and aims to maintain security of supply in the Emirate of Dubai,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

“We are delighted that DEWA has chosen First Solar to build the first phase of this flagship project, which illustrates our strategy to provide comprehensive solar power plant solutions in sustainable markets,” said Jim Hughes, CEO of First Solar. “We commend His Highness for his vision in promoting a path toward a sustainable future for Dubai that preserves natural resources, reduces pollution and serves the Emirate's rapidly growing power needs.”

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