Feb 21, 2018   SOURCE: BusinessWire

First Solar to Build 200MWac Solar Plant in Twiggs County, Ga.

First Solar, Inc. (Nasdaq: FSLR) is set to proceed with development and construction of a 200-megawatt (MW)ac photovoltaic (PV) solar power plant in Twiggs County, Ga. First Solar was awarded the installation as part of a 525MWac Request for Proposals for Georgia Power’s Renewable Energy Development Initiative (REDI).

“This is a tremendously exciting opportunity for First Solar to demonstrate our capability to develop solar assets in the Southeast and help Georgia Power meet the renewable energy needs of its customers,” said Kathryn Arbeit, Vice President of Project Development – Americas for First Solar. “Georgia Power’s significant commitment to renewable energy, paired with Twiggs County’s strong leadership and supportive business environment, combine to serve as a great example of how solar can be seamlessly included in the region’s energy mix.”

The solar project is currently in an advanced development stage, and is being developed under a Power Purchase Agreement with Georgia Power for the electricity and renewable attributes generated by the facility. Construction is expected to begin in November 2018. Upon completion and commissioning, anticipated in late 2019, this will be the largest stand-alone PV solar plant in the southeastern United States.

“We are committed to working with the Georgia Public Service Commission to create programs, like REDI, that help grow renewable energy in Georgia and add value for all of our customers,” said Wilson Mallard, Director of Renewable Development for Georgia Power. “Recently completed large-scale solar projects across Georgia are serving customers today, and the Twiggs County project will be the latest addition, allowing Georgia Power customers to benefit from cost-effective, competitive solar as part of our diverse generation mix.”

The project will be built on 2,000 acres of land near Warner Robins, Ga. Using over half a million of First Solar’s advanced technology thin film solar modules, the power plant is expected to generate more than 450 GWh of electricity annually. It will also be the largest infrastructure project in Twiggs County, which will see the economic benefit of 300-400 jobs during construction and ongoing tax revenues from the project.

“The Board of Commissioners extend a hearty Twiggs County welcome to First Solar,” said Ken Fowler, Chairman of the Twiggs County Commission. “We look forward to collaborating with our new partners on the biggest solar project in the state that will bring much needed jobs and economic benefits to the Geographic Center of Georgia.”

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, but are not limited to, statements concerning the development and construction of a 200 MW solar power plant. 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 and therefore speak only as of the date of this release. 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, whether as a result of new information, future developments or otherwise. 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 under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.