First Solar to Supply 2 MW of Advanced Thin-Film Modules
First Solar, Inc.(Nasdaq:FSLR) has completed an agreement with Zhenfa New Energy Science & Technology Co., Ltd. to supply 2 megawatts (MW) of First Solar's advanced thin-film solar modules to one of Zhenfa's approved solar projects in Xinjiang province in the first quarter of 2013. The collaboration will create First Solar's first commercial demonstration project in China and provide a strong platform to showcase the company's state-of-the-art photovoltaic (PV) technology.
"This agreement marks an important step forward in First Solar's efforts to support China's renewable energy goals with its advanced solar technologies and global solar industry expertise," said Bruce Yung, Managing Director and Vice President of Business Development for First Solar in China. "We are excited to work with a strong partner like Zhenfa to demonstrate our advanced thin-film technology. I expect this will be the first of many opportunities for collaboration between First Solar and leading Chinese companies, both within China and globally."
"We are very happy about our partnership with First Solar, which is providing its world-class PV technology to one of our key projects. By sharing experience, expertise and technologies we are creating a very strong combination. We look forward to exploring additional opportunities to work together to generate clean, renewable energy for China and the world," said Zha Zhengfa, Chairman of Zhenfa.
Yung added: "An important element of First Solar's business strategy is to work with Chinese partners to create shared value both in China and abroad. The agreement between First Solar and Zhenfa will serve as a positive example of win-win collaboration between leading renewable energy companies from China and the United States."