Jul 5, 2023
First Solar, Inc. (NASDAQ: FSLR) and Capital Power Corporation (“Capital Power” or “the Company”) (TSX: CPX) announced today that Capital Power has secured its first order for approximately 1 gigawatt (GWDC) of responsibly produced, ultra-low carbon thin film solar modules. The Series 6 Plus modules, which will be delivered between 2026 and 2028, will support Capital Power’s growing development portfolio.
“We are excited to partner with First Solar and its responsibly produced ultra-low carbon solar technology, which supports our solar development pipeline,” said Chris Kopecky, Senior Vice President and Chief Legal, Development and Commercial Officer, Capital Power. “First Solar's longstanding investment in domestic supply chains ensures the use of high-quality American solar technology, including products made with significant amounts of domestically sourced content, to power our projects. Together, with our shared commitment to the sustainable and responsible development of the solar industry, we look forward to building on this relationship.”
First Solar’s responsibly produced, advanced thin film photovoltaic (PV) modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. The company’s solar modules have the lowest carbon and water footprint of any commercially available PV module today, and it’s the first PV manufacturer to have its product included in the Electronic Product Environmental Assessment Tool (EPEAT) global registry for sustainable electronics.
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First Solar’s differentiated thin film semiconductor, integrated manufacturing process and 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. The company is the only one of the world’s ten largest solar manufacturers 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, and the company has zero tolerance for forced labor in its manufacturing or its supply chains.
“Capital Power joins a growing group of project developers that partner with First Solar as a reliable module technology provider that can help de-risk their project pipelines by delivering long-term pricing and supply certainty,” said Georges Antoun, chief commercial officer, First Solar. “We are pleased that Capital Power selected Responsible Solar technology to power its assets reliably, affordably and sustainably.”
Committed to net zero by 2045, Capital Power’s balanced approach to power generation includes a focused effort on solar energy growth across North America. With three solar facilities in operation, Capital Power will use its development and construction expertise to deliver projects against an active US solar pipeline totaling nearly 2.4 GWDC.
First Solar is investing approximately $1.3 billion in expanding its US manufacturing footprint from over 6.5 gigawatts (GWDC) of annual nameplate capacity currently, to approximately 10.9 GWDC by 2026. In addition to the $1.1 billion expected investment in a new 3.5 GWDC facility in Alabama, the company has also embarked on a $185 million expansion of its existing manufacturing footprint in Ohio. First Solar, the largest solar manufacturer in the Western Hemisphere, also announced an investment of up to $370 million for a dedicated research and development (R&D) innovation center in Perrysburg, Ohio, which is expected to be completed in 2024.