Mega Follow-up Order: National Grid Renewables Orders 1.6 GW of Modules From First Solar
Tempe, USA - Thin-film PV manufacturer First Solar has signed a mega follow-up order with renewable project developer National Grid Renewables. The agreement between the two U.S. companies calls for First Solar to supply 1,600 MW (1.6 GW) of thin-film modules.
National Grid Renewables and First Solar have worked together on several projects over their longstanding relationship, including the 200-megawatt Prairie Wolf Solar project in Illinois and the 275 MW Noble Solar and Storage (125 MWh) project in Texas.
Minneapolis-based National Grid Renewables is part of the Ventures division of National Grid plc and has a portfolio of solar, wind and energy storage projects across the U.S. in various stages of development, construction and operation.
First Solar's Series 7 modules were developed in close collaboration with engineering, procurement, construction (EPC) firms and structural and component suppliers. They combine First Solar's cadmium telluride thin-film technology with a larger form factor and a new back rail mounting system to deliver improved efficiency, enhanced installation velocity, and superior lifetime energy performance for US utility-scale PV projects.
First Solar is headquartered in the U.S. and continues to expand its manufacturing capacity here. In addition to a third factory currently under construction in Ohio, the company recently announced an investment of approximately $1.3 billion to expand its manufacturing facilities in Ohio and a new manufacturing facility in Alabama, its fourth U.S. manufacturing facility.
This latest investment is expected to bring First Solar's total investment in U.S. manufacturing to more than $4 billion, while annual manufacturing capacity in the U.S. is expected to increase to more than 10,000 MW by 2025. The company also has a $270 million investment in a research and development center in Perrysburg, Ohio.
First Solar's stock has gained 2.7 percent this trading week until Thursday evening to close at 149.14 euros (closing price, Dec. 15, 2022, Stuttgart Stock Exchange). The share price has thus risen by 95 percent since the turn of the year. First Solar thus currently leads the 2022 RENIXX ranking by a clear margin ahead of Enphase Energy (+ 81 percent).
Source: IWR Online, 16 Dec 2022