First Solar, Inc. (Nasdaq:FSLR) announced that the Company today held
the official groundbreaking ceremony for the expansion of its
Perrysburg, Ohio facility. Upon completion, the expansion will increase
the annual capacity at the Perrysburg facility to approximately 192
megawatts, based on run rates for the second quarter of 2008. The new
investment will add at least 134 new jobs to the Company’s
current workforce of 700 at its Perrysburg facility.
The expansion, announced on Aug. 18, 2008, will add approximately
500,000 square feet of manufacturing, research and development and
office space. The Company will also construct a separate facility to
support increased development activities associated with its advanced
thin film solar module manufacturing technology.
First Solar President Bruce Sohn officiated over the groundbreaking
celebration, which was attended by Ohio Governor Ted Strickland, U.S.
Senators George Voinovich and Sherrod Brown, as well as a number of
guests representing state and local government. First Solar has
collaborated with the State of Ohio and local leaders on a comprehensive
incentive package for these two projects. Today’s
groundbreaking puts First Solar on track to complete plant construction
by the first half of 2009, with full volume production expected by the
second quarter of 2010.
“First Solar is excited to move forward with
this expansion. Our growing capacity allows us to continue reducing the
cost of solar electricity to a level competitive with conventional
sources,” said Mr. Sohn. “The
associates at our Ohio manufacturing plant are making a singular
contribution to energy supply and a cleaner, healthier environment.”
“Advanced energy can not only power our homes,
it can power our economy,” Gov. Strickland
said. “And this new First Solar investment is
one more big piece of evidence that advanced energy has a home in Ohio.”
About First Solar
First Solar, Inc. (Nasdaq:FSLR) manufactures solar modules with an
advanced thin film semiconductor technology and provides comprehensive
PV solutions that significantly reduce solar electricity costs. By
enabling clean, renewable electricity at competitive prices, First Solar
provides an economic and environmentally responsible alternative to
existing peaking fossil-fuel electric generation. First Solar PV power
plants operate with no water, air emissions or waste stream. First Solar
set the benchmark for environmentally responsible product life cycle
management by introducing the industry's first comprehensive collection
and recycling program for solar modules. From raw material sourcing
through end-of-life collection and recycling, First Solar is focused on
creating cost-effective renewable energy solutions that protect and
enhance the environment.
For First Solar Investors
This release contains forward-looking statements which are made pursuant
to the safe harbor provisions of Section 21E of the Securities Exchange
Act of 1934. The forward-looking statements in this release do not
constitute guarantees of future performance. Those statements involve a
number of factors that could cause actual results to differ materially,
including risks associated with the company's business involving the
company's products, their development and distribution, economic and
competitive factors and the company's key strategic relationships and
other risks detailed in the company's filings with the Securities and
Exchange Commission. First Solar assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein.
First Solar, Inc.
Lisa Morse
602-414-9361
lmorse@firstsolar.com
