Intersect Power is expected to be one of the largest buyers and operators of First Solar technology by 2027
TEMPE, Arizona – First Solar, Inc., headquartered in the US (Nasdaq: FSLR) announced this week that it has entered into an agreement to supply 2.4 gigawatts (GW)DC of its high-performance, advanced thin-film photovoltaic (PV) solar panels to Intersect Power, LLC (“Intersect Power”). The modules are scheduled for delivery from 2024 to 2026, enabling Intersect Power, which previously placed orders for a total of 4.1 GW.DC, in 2019 and 2021 one of the world’s largest buyers and operators of First Solar’s responsibly sourced module technology with approximately 6.4 GWDC is expected to be deployed in 2027.
The modules will be deployed in Intersect Power’s solar, storage and green hydrogen projects that will come online from 2025 to 2027 in the United States. Most of the modules are expected to be manufactured at First Solar’s manufacturing complex in northwestern Ohio.
“Intersect Power’s ongoing relationship with First Solar has been critical in rapidly scaling our business to meet our vision and reliably deliver value and performance to our customers to support their decarbonisation goals” said Sheldon Kimber, chief executive officer of Intersect Power. “We look forward to deploying this large-scale portfolio and creating high-paying U.S. jobs in both construction and manufacturing with First Solar’s domestically produced modules.”
Designed and developed at its California and Ohio Research and Development (R&D) centers, First Solar’s responsibly produced advanced thin film PV modules set industry standards for quality, durability, reliability, design and environmental performance. The modules have an ecological footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China. First Solar also has an advanced high-performance recycling program, which recovers approximately 90 percent of its Cadmium Telluride (CadTel) semiconductor material that can be used to manufacture new modules, as well as other materials, including aluminum, glass and laminates. The company currently operates commercial recycling facilities in the US, Germany, Malaysia and Vietnam. In addition, First Solar is the only company of the top 10 solar producers worldwide to be a member of the Responsible Business Alliance (RBA), the world’s largest industry coalition committed to supporting the rights and well-being of workers and communities in the global supply industry. chain.
“Intersect Power is leading by example by maximizing the impact of its investments on the U.S. economy without sacrificing competitiveness,” said Georges Antoun, First Solar’s Chief Commercial Officer. “By driving its growth with U.S. solar, Intersect Power directly supports U.S. manufacturing and jobs and enables a sustainable domestic supply chain. It also demonstrates the ability of U.S. solar technology to not only compete, but to transition of our country towards a sustainable energy future.”
First solar energy is Invest $680 million in expanding America’s domestic solar production capacity by 3.3 GW per year through the construction of its third production facility in the US, in Lake Township, Ohio. The new facility is expected to be commissioned in the first half of 2023 and when fully operational, the company’s northwest Ohio footprint will scale to a total annual capacity of 6 GW, which is expected to be the largest. fully vertically integrated solar energy production complex outside of Europe. China. First Solar has invested more than $2 billion in its manufacturing footprint in the US and, when its third plant is fully operational, will directly employ more than 2,500 people in Ohio while supporting an estimated 15,000 indirect jobs through its US supply chain.
In addition to manufacturing facilities in Ohio, First Solar also operates factories in Vietnam and Malaysia and is building a new 3.3 GW factory in India it is expected to be commissioned in the second half of 2023. With First Solar’s expansion in the United States and India and optimization of its existing fleet, the company expects its nameplate production capacity to double to 16 GW by 2024. First Solar is the only US headquartered company among the world’s ten largest solar energy manufacturers.
For more information about Intersect Power, visit: www.intersectpower.com.
Thanks to First Solar, Inc.
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