JP Energie Environnement Selects Lowest Carbon First Solar Modules for Labarde Project

59MW
_DC
facility is built on disused landfill and is the largest urban photovoltaic power plant in Europe

TEMPE, Ariz., Sept. 23, 2020 (GLOBE NEWSWIRE) —

First Solar

, Inc. (Nasdaq: FSLR) today announced that

JP Energie Environnement

(JPee) is using its advanced

Series 6

photovoltaic (PV) solar modules to power the 59-megawatt (MW)
_D_C
Labarde solar power plant

.

The facility, believed to be the largest urban solar PV power plant in Europe, is being built on the site of a former open-air municipal landfill in Bordeaux in South West France. The land was designated as a wasteland, unfit for residential or commercial buildings, or agricultural use. JPee, however, secured a 35-year lease for the 600,000-square meter site and began developing the Labarde solar project, which was selected under successive rounds of the PV tenders organized by France’s

Commission de Régulation De L’Énergie

(CRE).

Based in Caen, France, JPee has over 15 years of experience developing, financing, constructing, and operating renewable energy assets. The company operates 263MW
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of wind and solar projects, generating enough energy to power 230,000 average homes, making it one of France’s leading independent renewable energy producers.

“The Labarde project demonstrates the positive role that solar can play within a community. Its role goes beyond transforming sunlight into solar electricity and supporting France’s decarbonization goals, as it helps heal a piece of land that has no other practical use,” said Xavier Nass, Chairman, JPee. “While solar is inherently sustainable, this project is powered by the

lowest carbon solar technology

and sets new benchmarks for sustainability. We thank First Solar for standing behind its commitments and delivering on its promises to help ensure that this important project can be delivered on schedule.”

Designed and developed at the Company’s research and development (R&D) centers in the United States, First Solar’s Series 6 PV module sets industry benchmarks for quality, reliability, design, and environmental performance. With a carbon footprint that is up to six times lower than crystalline silicon PV panels manufactured using conventional, energy-intensive production methods, Series 6 delivers a superior environmental profile and the

lowest carbon solar electricity

available today.

“At First Solar, we put sustainability at the heart of our business, and we’re thrilled that JPee is powering this landmark facility with First Solar’s advanced solar module technology,” said Pascal Tirtiaux, First Solar’s head of business development for France. “Our transparency and commitments as a module provider plays a vital role in ensuring that developers like JPee can maintain their competitiveness and their project execution timelines. We’re thankful for the trust that Xavier and his team have placed in First Solar.”

With over 1,100MWs installed, First Solar’s advanced module thin film technology forms the backbone of France’s solar fleet. The Company’s modules have been deployed across over 400 projects in France ranging from large-scale ground-mounted plants to commercial and industrial (C&I) projects.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, 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 solutions 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 order of Series 6 modules by JP Energie Environnement (JPEE) for its 59MW
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Labarde solar project. 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 Condition 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.