MIAMI, Fla., March 01, 2023 (GLOBE NEWSWIRE) -- Origis Energy, one of America's leading renewable energy platforms, has entered into an agreement with First Solar, Inc. FSLR to procure an additional 2 gigawatts (GW)DC of Series 6 Plus and Series 7 thin film solar modules for delivery in 2026 and 2027.
This agreement was booked prior to the release of First Solar's Q3 2022 earnings in October 2022. A 750 MWDC capacity agreement between Origis and First Solar was announced in April 2022.
"Our grid power customers depend on Origis to deliver on their clean energy goals. This requires superior customer service, innovation, quality and commitment, our mission to consistently deliver utility scale solar projects," said Samir Verstyn, chief investment and chief operations officer, Origis Energy. "This most recent agreement with First Solar caps a five-year collaboration, comprising 3.4 GW of solar panel capacity. First Solar technology and their growing American manufacturing capability is core to meet our customer's decarbonization targets. We thank them for their role in our holistic and disciplined approach to fulfill the promise of clean, cost-effective renewable energy solutions."
First Solar's thin film PV modules are designed and developed at its R&D centers in California and Ohio and have the lowest carbon and water footprint of any commercially available PV technology today.
"We're thrilled that Origis has doubled down on its commitment to First Solar's responsibly-produced thin film technology," said Georges Antoun, chief commercial officer, First Solar. "This deal highlights the crucial role long-term supply certainty and lower political and compliance risks now plays in the solar industry."
In addition to the importance of American manufacturing capacity, supply chain transparency and integrity is integral to both parties. Origis has in place a supply chain code of conduct and has signed the Solar Industry Forced Labor Prevention Pledge led by the Solar Energy Industry Association (SEIA) to comply with standards on forced labor prevention.
First Solar's tightly controlled supply chain helps eliminate the risk of exposure to solar supply chains identified by the US Department of Labor's 2022 List of Goods Produced by Child Labor or Forced Labor as being tainted by forced labor. First Solar is the only company among the ten largest solar manufacturers globally to be a member of the Responsible Business Alliance (RBA), the world's largest industry coalition dedicated to supporting the rights and well-being of workers and communities in the global supply chain. The company is also the first PV manufacturer to have its product included in the Electronic Product Environmental Assessment Tool (EPEAT) global registry for sustainable electronics.
First Solar, the only US-headquartered company among the world's largest solar manufacturers, is expanding its American manufacturing capacity. A third Ohio factory is expected to be commissioned in the first half of 2023, and the company is investing approximately $1.3 billion in expanding its Ohio manufacturing footprint and building a fourth US manufacturing facility in Alabama. These expansion plans are expected to bring First Solar's total investment in American manufacturing to over $4 billion and its total annual manufacturing capacity to 10.6 GWDC by 2026 The company also announced a $270 million investment in a dedicated research and development (R&D) innovation center in Perrysburg, Ohio, which is expected to be completed in 2024.
Origis has a decade plus track record fulfilling Environment, Social and Governance (ESG) and clean energy initiatives for customers from coast to coast. Standard and best practices in concert with the Origis solar and energy storage projects meet and exceed industry guidance and have done so with the leadership of the experienced Origis renewable energy team.
For the 2023 – 2027 build schedule, Origis has secured over 6 GW of solar modules, including the most recent agreement with First Solar, to support new and existing customers with guaranteed panel supply through 2027.
About Origis Energy
Origis Energy is bringing clean and cost effective solar, energy storage and clean hydrogen solutions within reach for utility, commercial and industrial as well as public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in 170 projects worldwide totaling more than 5 GW to date of developed solar, energy storage and clean hydrogen capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar, energy storage and clean hydrogen development, financing, engineering, procurement, and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers in the US. More information at www.OrigisEnergy.com.
About First Solar, Inc.
First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company's advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar's approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements, which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning an order for 2 GWDC of solar modules by Origis; First Solar's plan to invest approximately $1.3 billion in building a fourth factory in Alabama and expanding the capacity of its existing manufacturing footprint in Ohio; First Solar's expectation that such investment will bring the company's total investment in American manufacturing to over $4 billion, and its expectation that its annual US nameplate manufacturing capacity will expand to 10.6 GW by 2026. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," "seek," "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue" and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.
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Glenna Wiseman Origis Energy 1 786 893 2760 glenna.wiseman@origisenergy.com
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