First Solar EPC Surpasses 6GW of Global Installed Capacity

First Solar, Inc. (Nasdaq: FSLR) announced today that in early February it surpassed 6 gigawatts (GW)DC of capacity installed by the company’s Engineering, Procurement and Construction (EPC) group.

According to Alan Stringer, First Solar’s Vice President of Global Project Management and Construction Services, First Solar is installing approximately 30 to 40 MWDC per week on 2GWDC of active projects around the world right now.

“We would like to thank our customers for placing their trust in First Solar to design, procure and build the highest-performing utility-scale solar generation facilities in the world.”

Stringer said partnerships with strategic customers have enabled First Solar to continually lower the cost of utility-scale solar generation. As well as leading the industry in Research and Development investment, First Solar sets the pace in driving down the cost of Balance of Systems (BoS). For example, he said, First Solar’s application of 1500V inverters is rapidly becoming an industry standard. And, he pointed out, the company’s manufacturing heritage, combined with the scale of installing 6GW, has enabled First Solar to develop a “manufacturing in the field” concept that helps drive down BoS cost.

“Power plant owners benefit from both the lower cost of utility-scale projects built by First Solar and the proven track record of innovation we bring to every project,” said Stringer. “Our customers also have the confidence that First Solar proudly stands behind the reliability and performance of every asset we build.”

First Solar’s inaugural EPC job was 2008’s 10 megawatt (MW)AC El Dorado Solar Project in Nevada, consisting of 220,000 First Solar photovoltaic (PV) modules, and taking nearly two years from groundbreaking to commissioning. In early 2015, First Solar completed construction of the 550MWAC Desert Sunlight Solar Project and the 550MWAC Topaz Solar Farms, each utilizing more than 8 million modules and built in about the same amount of time it took to construct El Dorado.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements, among other things, concerning: effects on our financial statements and guidance resulting from pending tax matters; our business strategy, including anticipated trends and developments in and management plans for our business and the markets in which we operate; future financial results, operating results, revenues, gross margin, operating expenses, products, projected costs (including estimated future module collection and recycling costs), warranties, solar module efficiency and balance of systems cost reduction roadmaps, restructuring, product reliability, investments in unconsolidated affiliates and capital expenditures; our ability to continue to reduce the cost per watt of our solar modules; our ability to reduce the costs to construct PV solar power systems; research and development programs and our ability to improve the conversion efficiency of our solar modules; sales and marketing initiatives; and competition. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," “seek,” "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue" and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed in Item 1A: "Risk Factors," of our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed with the SEC.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160223005301/en/