TEMPE, Ariz. & LOUISVILLE, Colo.--(BUSINESS WIRE)--First Solar, Inc. (NASDAQ: FSLR) and Clean Energy Collective, LLC (CEC) have confirmed the parties have executed a Module Supply Agreement (MSA) that facilitates CEC’s procurement of First Solar’s advanced technology modules and other equipment to be used in CEC’s growing project pipeline in one of the fastest expanding segments of the solar market. The two leaders in renewable energy established a strategic partnership late last year to develop and market community solar offerings to residential customers and businesses directly on behalf of partner utilities.
The first four projects to utilize the MSA demonstrate the variety of benefits available to local communities, as well as versatility in applications of the core technology used for large-scale community solar generation facilities. The portfolio also shows how First Solar and CEC can meet the unique needs of different types of utilities – investor-owned, public power, and rural electric cooperatives.
A facility serving customers of Black Hills Energy in Pueblo, Colorado, will allow individuals to own portions of a fixed tilt array using First Solar modules and equipment, all developed and administered by CEC. Owners of solar panels will receive direct credit on their Black Hills Energy electric bill for the power produced. A portion of the power produced will also be made available to low-income residents within Black Hills Energy’s service territory. This project is the first “roofless” community solar park in Pueblo and the surrounding area.
In another first, a community solar project in San Antonio, Texas, using First Solar modules mounted on a single-axis tracking system, developed and administered by CEC, will provide customers of CPS Energy with the opportunity to own local, clean energy generation through a CEC-managed program designed to make solar power more affordable and accessible to residential and commercial customers.
A project with the non-profit NEC Retail (Nueces Electric Cooperative) in Corpus Christi, Texas, will bring community shared solar to south Texas and will be the first large-scale solar garden in a deregulated market. NEC Retail, as a non-profit rural electric cooperative, is able to serve any consumers in Texas who have the ability to choose their electric provider, who can purchase solar modules in the 800 kW single-axis tracker array to offset their electric usage charges.
First Solar modules using a special anti-reflective coating (ARC) will be used at a project for Holy Cross Energy in Rifle, Colorado, along with balance of system components from other suppliers. This is the fourth community solar project CEC has worked on with Holy Cross Energy.
Combined, these four projects introduce the concept of community solar to nearly 1 million potential residential users, many of whom would not be able to install solar on their own homes.
“Roofless solar allows the greatest number of consumers to participate in and enjoy the benefits of locally produced clean power,” said CEC founder and CEO Paul Spencer. “We are proud to partner with First Solar in using their industry-leading technology, which allows us to provide the most competitive pricing and greatest value to utilities and their customers.”
“The community solar market promises significant growth, and CEC is clearly well-positioned to lead in this space,” said Eran Mahrer, Senior Director of Business Development – Utilities for First Solar. “First Solar’s module supply agreement is a tangible demonstration of our ongoing commitment to this strategic partnership.”
About Clean Energy Collective
A solar tech start-up in 2009, Clean Energy Collective (CEC) has grown to become the world’s leading developer of Roofless Community Solar solutions. CEC pioneered the model of delivering clean power generation through medium-scale solar PV facilities accessible to all utility customers. Since establishing the first community-owned solar array in the country in 2010 near El Jebel, Colorado, CEC has built or has under development more than 100 Roofless Community Solar projects with 25 utility partners across 11 states, serving thousands of customers, and representing more than 130 MW of community solar capacity. www.easycleanenergy.com
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. 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: 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, warranties, solar module efficiency and balance of systems (BoS) 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; our ability to reduce the costs to construct photovoltaic (PV) solar power systems; research and development programs and our ability to improve the conversion efficiency of our solar modules; 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," "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, Current Reports on Form 8-K and other reports filed with the SEC.