Oct 26, 2022
First Solar, Inc. (Nasdaq: FSLR) today announced that it has entered into an agreement to supply Swift Current Energy with 2 gigawatts (GW)DC of its high-performance, responsibly produced thin film solar modules in 2025 and 2026.
The deal represents Swift Current’s second gigawatt-plus order for First Solar modules. Earlier this year, the Boston-headquartered developer, owner, and operator of utility-scale clean energy assets announced that it placed an order for 1.27 GWDC of First Solar modules. Founded in 2016, Swift Current has commercialized over 1 GW of renewable energy projects, including utility-scale solar and wind. The company also has a growing pipeline of over 9 GW of planned renewable assets across North America.
“With the US rapidly advancing its energy infrastructure, our project pipeline is growing and we’re focused on ensuring that our capacity comes online as planned,” said Eric Lammers, chief executive officer, Swift Current Energy. “Against this backdrop, it’s crucial that we work with partners like First Solar that will deliver not only high quality, responsibly-made products, but also certainty of supply. We are pleased to expand our partnership with First Solar and are proud to be supporting the growing clean energy manufacturing sector in the US.”
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Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s advanced thin film photovoltaic (PV) modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. Each module features a layer of Cadmium Telluride (CadTel) semiconductor that is only three percent the thickness of a human hair. Additionally, the company continues to optimize the amount of semiconductor material used by enhancing its vapor deposition process through continued investment in R&D focused on more efficient module technology with a thinner semiconductor layer. First Solar also operates an advanced recycling program that provides closed-loop semiconductor recovery for use in new modules.
“As America’s energy transition gathers pace, it must be underpinned by supply chains that are reliable and robust, and our customers recognize that First Solar is well positioned to provide the long-term certainty they need,” said Georges Antoun, chief commercial officer, First Solar. “Swift Current’s latest order demonstrates that our commitment to Responsible Solar and enabling certainty for our customers are key drivers of demand. We thank them for their continued trust in First Solar and our technology.”
First Solar, the only US-headquartered company among the world’s largest solar manufacturers, is expanding its manufacturing capacity at home and abroad. In addition to a third factory under construction in Ohio, the company recently announced an investment of up to $1.2 billion in expanding its Ohio manufacturing footprint and a new manufacturing facility, its fourth American manufacturing facility, in the US Southeast. This latest investment is expected to bring First Solar’s total investment in American manufacturing to $4 billion, while its annual US manufacturing capacity is forecast to expand to over 10 GW by 2025.
In addition to its Ohio manufacturing facilities, First Solar also operates factories in Vietnam and Malaysia, and is building its first new manufacturing facility in India, which is scheduled to begin operations in the second half of 2023. On completion of its expansion plans in the US and India, the company expects to have over 20 GWDC of annual global manufacturing capacity in 2025.