First Solar Announces New Long-Term Module Supply Agreements
Posted on: Friday, 31 October 2008, 06:00 CDT
First Solar has entered into new long-term module supply agreements with Sorgenia Solar, a developer of large-scale, grid-connected solar power plants in Italy, and extended module supply agreements with several of First Solar's existing customers including EDF Energies Nouvelles, Ecostream, Juwi and Phoenix Solar.
The new agreements expand contracted module volume by a total of 525MW, allowing for additional sales of approximately $800 million at an assumed exchange rate of $1.15/1.00 over the period of 2009 to 2013. These agreements are structured on terms similar to First Solar's existing long-term module supply agreements.
Mike Ahearn, CEO of First Solar, said: "These new module supply agreements and contract extensions enable our partners to increase solar electric generation in multiple markets throughout Europe and demonstrate the successful partnerships First Solar has established with the world's leading project developers and system integrators."
Source: Datamonitor
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