TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) and MCE today announced that MCE has entered into a Power Purchase Agreement (PPA) for electricity generated from 40MWAC of First Solar’s Little Bear Solar Project in Fresno County, CA. The project, designed to be built out eventually to 160MWAC, is anticipated to begin construction in 2019, with commissioning expected in 2020.
A leading community choice aggregator (CCA) in California, MCE offers their customers the benefits of locally controlled, competitively priced renewable energy options. The Little Bear PPA is First Solar’s first with a CCA.
“MCE is at the forefront of community-based power, a trend that is growing not only in California but across the United States,” said Brian Kunz, First Solar’s Vice President of Project Development. “We are excited to partner with an early leader in this important energy segment, and we look forward to expanding the relationship as MCE’s customer base grows.”
“MCE is dedicated to getting more renewable energy on the grid in California, and providing climate-friendly energy choices for customers,” said Dawn Weisz, CEO of MCE. “By empowering communities and customers with green energy choices like Light Green 50% renewable and Deep Green 100% renewable, MCE is able to stimulate build-out of California solar projects, providing a competitive new marketplace for enterprising energy suppliers like First Solar.”
In the agreement, MCE will initially purchase electricity from Little Bear’s 40MWAC first phase, with an option to expand up to the project’s full 160MWAC as their load increases through potential expansion. Terms of the deal were not disclosed.
About MCE
MCE is a not-for-profit, community-based electricity provider offering 50% to 100% renewable electricity from sources such as solar, wind, bioenergy, geothermal and hydroelectricity at competitive rates in Marin County, Napa County and the cities of Benicia, El Cerrito, Lafayette, San Pablo, Richmond and Walnut Creek. By choosing MCE, customers help support new in‐state and local renewable energy generation. More at www.mcecleanenergy.org.
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: 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; 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, Current Reports on Form 8-K and other reports filed with the SEC.
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