First Solar Awarded 241MW Module Supply Contract for Edify Energy Solar Projects in Australia

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BRISBANE, Australia--(BUSINESS WIRE)--First Solar, Inc. (Nasdaq: FSLR) today announced it has been awarded a 241 megawatt (MW)DC module supply contract by RCR Tomlinson Ltd (ASX: RCR) as engineering, procurement and construction contractor for Edify Energy’s Daydream (180.7MWDc) and Hayman (60.2MWDC) solar projects in Queensland, Australia. This contract takes First Solar’s delivery pipeline to over 500MW in the next 12 months, cementing it as the leading module supplier for large-scale solar in Australia.

Located across two sites north of Collinsville, the projects will utilize an optimized technology solution that includes single axis tracking technology from Array Technologies, Inc., and more than 2,026,565 First Solar advanced thin film photovoltaic (PV) modules, to produce approximately 531,000 megawatt-hours of sustainable energy each year.

The First Solar Series 4 modules chosen for the projects are ideally suited to the hot and humid environmental conditions of the Whitsunday Region, due to a superior temperature coefficient, and better shading and spectral response.

“First Solar’s unique energy yield advantage enables our solar projects in North Queensland to produce more energy per MW installed than other available PV technology,” said John Cole, Edify Energy’s Chief Executive. “This is of significant importance for asset owners and operators looking to maximize energy production. The First Solar team has been very supportive and a key enabler of these projects.”

On completion, the projects will provide significant environmental benefits, producing enough sustainable energy to displace 429,000 metric tons of carbon dioxide emissions per year combined. This will serve the needs of approximately 73,000 average Queensland homes, the equivalent of taking approximately 115,000 cars off the road.

Construction on the projects is scheduled to commence in Q3 2017, with module delivery in Q4 2017 and Q1 2018.

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 certain module manufacturing changes and associated restructuring activities; 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; the impact of public policies, such as tariffs or other trade remedies imposed on solar cells and 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; our ability to expand manufacturing capacity worldwide; 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, and other filings with the Securities and Exchange Commission.

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