Record Volume: First Solar Scores Orders For Huge Contingent Of PV Modules

Tempe, USA - US thin-film solar specialist First Solar has announced contracts for a huge 4,900 megawatt (4.9 GW) contingent of PV modules, a day after announcing plans to further expand its US production capacity. The contractual partner is the US renewable energy project developer and operator Intersect Power.

Of the total contracted 4,900 MW (4.9 GW), a delivery volume of 1,000 MW (1 GW) was signed prior to First Solar's third quarter 2022 earnings announcement in October. In contrast, the contract to deliver the remaining 3,900 MW (3.9 GW) was signed after the quarterly results were released.

Together with a previously announced 2,400 MW (2.4 GW) contract signed in July 2022, this brings Intersect Power's total order volume for First Solar modules in 2022 to 7,300 MW (7.3 GW).

Intersect Power's 2022 orders provide for the use of First Solar modules in the company's solar, storage and green hydrogen projects scheduled to come online in the United States between 2025 and 2029.

Prior to 2022, Intersect Power had ordered modules totalling 4,100 MW (4.1 GW) under contracts signed in 2019 and 2021. This latest transaction is expected to solidify the company's position as the world's largest buyer and operator of thin-film PV modules, with an estimated installed capacity of 11,400 MW (11.4) GW by 2029, First Solar said.

Yesterday, First Solar's shares gained 3.7 percent to a price of 158.30 euros (closing price, 17.11.2022, Stuttgart Stock Exchange). On today's trading day, the RENIXX Group share has so far gained 1.5 percent to 160.70 euros (11:53 a.m., 18.11.2022, Stuttgart Stock Exchange). Since the turn of the year, First Solar's share price has risen by 110 percent.

Source: IWR Online, 18 Nov 2022