First Solar Inaugurates 3.3 GW Manufacturing Facility in India

The ability is India’s first totally vertically built-in photo voltaic manufacturing plant

First Photo voltaic, Inc. (Nasdaq: FSLR) as we speak inaugurated its new facility in Tamil Nadu, India, the nation’s first totally vertically built-in photo voltaic manufacturing plant. The Minister for Industries, Promotions and Commerce of the Authorities of Tamil Nadu, Dr TRB Rajaa inaugurated the ability in a ceremony attended by america Ambassador to India, Eric Garcetti, and Scott Nathan, Chief Govt Officer of the US Worldwide Improvement Finance Company ( DFC).

“We’re delighted that First Photo voltaic has chosen Tamil Nadu for this landmark funding, strengthening our state’s place as India’s manufacturing hub,” stated Dr TRB Rajaa. “This manufacturing unit has set a excessive bar for sustainable and superior manufacturing and has created high-value jobs on account of its presence in our state, whereas supporting India’s ambition to change into self-sufficient in photo voltaic know-how.”

The ability, which has an annual nameplate capability of three.3 gigawatts (GW) and immediately employs roughly 1,000 individuals, produces First Photo voltaic’s Sequence 7 photovoltaic (PV) photo voltaic modules, developed by researchers and improvement heart of the corporate within the US and optimized for the Indian market. First Photo voltaic is exclusive among the many world’s largest photo voltaic producers as the one US-headquartered firm. The corporate’s tellurium-based semiconductor, which permits it to keep away from reliance on Chinese language crystalline silicon provide chains, is the second most typical photovoltaic know-how out there as we speak.

Ambassador Eric Garcetti stated, “One month in the past in Dubai, the individuals of COP28 issued a daring name for the world to transition from fossil fuels, to realize net-zero emissions by 2050. First Photo voltaic manufacturing facility will assist advance our international transition to cleaner, greener power, and stands as a shining instance of what could be accomplished when america and India work collectively – all through authorities and the personal sector – to realize sustainable local weather motion.”

Representing an funding of roughly $700 million, which incorporates $500 million in beforehand introduced DFC financing, the ability is First Photo voltaic’s sixth operational manufacturing unit and expands the corporate’s international manufacturing footprint in 4 nations, together with the US, Malaysia, and Vietnam.

“America is leveraging American innovation and know-how to diversify vital power provide chains around the globe and drive financial development in India,” stated DFC CEO Scott Nathan. “That is good for america and it is good for India. This $500 million in financing reveals the rising power of our partnership with India – DFC’s largest market and a like-minded associate with dynamic personal sector.”

For the reason that begin of this decade, First Photo voltaic has launched into a $4.1 billion manufacturing growth technique that has seen it develop from roughly 6 GW of operations by 2020 to greater than 16 GW of worldwide nameplate capability. capability by the tip of 2023. Along with the ability in India, the corporate has additionally commissioned a 3rd manufacturing unit within the US, positioned in Ohio, in 2023. The corporate is additional increasing its footprint within the US with a 0.9 GW growth in Ohio manufacturing advanced and new factories within the states of Alabama and Louisiana, every anticipated so as to add 3.5 GW of annual nameplate capability, as soon as commissioned and ramped up. The corporate expects to have 25 GW of worldwide annual nameplate capability by 2026.

“The inauguration of this landmark manufacturing facility and the launch of economic shipments to clients in India is a vital milestone in our journey to long-term and sustainable development,” stated Mark Widmar, CEO, First Photo voltaic. “The velocity with which now we have been capable of construct this facility is a testomony to the insurance policies of the Indian Federal and Tamil Nadu state governments.”

Widmar added, “We’re pleased with our companions who’ve labored tirelessly to copy and adapt our superior photo voltaic manufacturing template for India. Because of their work, our state-of-the-art facility not solely units requirements for our international manufacturing footprint, however for our trade.”

The manufacturing unit, positioned in an space with excessive baseline water stress, is believed to be the primary net-zero water withdrawal photo voltaic manufacturing facility on the earth. Designed to attenuate its affect on native water assets, the ability will rely fully on tertiary handled reverse osmosis water from town’s sewage remedy plant and may have zero wastewater discharge. Moreover, the manufacturing unit is residence to India’s first photo voltaic PV recycling plant. The corporate pioneered high-value photo voltaic recycling, offering closed-loop semiconductor restoration to be used in new modules, whereas additionally recovering different supplies together with aluminum, glass, and laminates.

The Sequence 7 module produced within the new facility is essentially the most eco-efficient within the trade with a carbon and water footprint that’s roughly 4 occasions decrease than crystalline silicon photo voltaic panels made in China. The corporate’s sustainable manufacturing methodology makes use of 50% much less power and solely a 3rd of the water than an equal polysilicon module manufacturing facility would require.

About First Photo voltaic, Inc.

First Photo voltaic is a number one American photo voltaic know-how firm and international supplier of responsibly manufactured eco-efficient photo voltaic modules that advance the struggle towards local weather change. Developed in R&D labs in California and Ohio, the corporate’s superior skinny movie PV modules symbolize the following technology of photo voltaic applied sciences, offering a aggressive, high-performance, lower-carbon various to traditional crystalline silicon PV modules. From the sourcing and manufacturing of uncooked supplies via the recycling of the end-of-life module, First Photo voltaic’s method to know-how encompasses sustainability and accountability to individuals and the planet. For extra data, please go to

For First Photo voltaic Buyers

This press launch comprises varied “forward-looking statements” made pursuant to the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements embrace, however aren’t restricted to, statements about First Photo voltaic’s expectation to have 25 GW of annual nameplate capability by 2026. These forward-looking statements are usually characterised by means of phrases equivalent to “estimate,” “anticipate,” “anticipate ,” “venture,” “plan,” “intend,” “search,” “imagine,” “guess,” “guess,” “in all probability,” “might,” “ought to,” “aim,” “goal,” “can,” “might,” “predict,” “proceed” and the unfavourable or plural of those phrases and different comparable terminology. Ahead-looking statements are solely predictions primarily based on First Photo voltaic’s present expectations and First Photo voltaic’s projections relating to future occasions and subsequently converse solely as of the date of this launch. You shouldn’t place undue reliance on these forward-looking statements. First Photo voltaic undertakes no obligation to replace any forward-looking statements for any cause, whether or not on account of new data, future developments or in any other case. These forward-looking statements contain identified and unknown dangers, uncertainties, and different elements that might trigger precise outcomes, ranges of exercise, efficiency, or achievements of First Photo voltaic might differ materially from what’s expressed or implied in these statements. These elements embrace, however aren’t restricted to, issues mentioned underneath the captions “Threat Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” in our most up-to-date Annual Report on Type 10-Ok and our subsequently filed Quarterly Studies on Type 10-Q, as supplemented by our different filings with the Securities and Change Fee.

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