First Solar to Support Dow Gulf Coast Operations in Texas With Lowest Carbon Solar

Dow signs 15-year PPA with First Solar for 75 percent of capacity of 200MWAC Horizon Solar project

PVTIME - First Solar, Inc. (Nasdaq: FSLR) today announced that it had signed a 15-year power purchase agreement (PPA) with Dow, Inc. (NYSE: DOW) for its Gulf Coast operations. Dow’s Texas Operations is the largest petrochemical site in the western hemisphere. First Solar had previously disclosed the execution of the PPA without identifying the offtaker.

First Solar will support Dow's Gulf Coast Operations in Texas with the lowest carbon solar energy produced by its Series 6 modules.

Under the agreement, First Solar will supply Dow with renewable energy from 75 percent of its 200-megawatt (MW)AC Horizon Solar project in Frio County, Texas. The project will utilize First Solar’s high-performance, eco-efficient Series 6
photovoltaic (PV) modules, designed and developed at the Company’s
research and development (R&D) centers in California and Ohio. The
Series 6 modules that will power the project utilize a range of advanced
technologies, including ENGAGE™ PV Polyolefin Elastomers by Dow, which are used as encapsulant films to enhance the module’s performance and efficiency.

“Dow
and First Solar share a common vision for a more sustainable planet and
a long history of partnership,” said Edward Stones, Dow’s global
business director for Energy and Climate Change. “Multiple raw
materials, components, and derivative products produced by Dow
contribute to the reliability and sustainability of First Solar’s module
technology, including ENGAGE PV polyolefin elastomers. Now we are
putting that technology to work in helping to power our operations in
Texas and to reach Dow’s 2025 Sustainability Goal of obtaining 750
megawatts of our power demand from renewable sources.”

With
up to six times lower carbon footprint and 24 times lower water impact
than conventional crystalline silicon PV panels on a life cycle basis,
the module delivers a superior environmental profile and the lowest
carbon solar electricity available. In addition to having the lowest
water footprint in the solar industry, First Solar has reduced its
manufacturing water intensity per watt produced by 64 percent since
2009. One of the ways First Solar saves water is by recycling rejected
water from a purification system back into a raw water tank. This has
helped the company save more than 400 million liters of water since
2018, which is equivalent to 160 Olympic-sized swimming pools.

“With
123 years of history and a range of products that touches virtually
every aspect of our lives, Dow helps define the image of American
innovation on the world stage. As America’s solar company,
we’re proud to support Dow’s renewable energy objectives with
technology designed and developed in the United States,” said Karl
Brutsaert, senior director, Corporate Renewables, First Solar. “Dow
reinforces its longstanding commitment to sustainability by sourcing
energy produced by the PV technology with the lowest carbon and water
footprints available today. Importantly, the agreement also enables the
addition of resilient, reliable solar capacity to our nation’s
electricity grid.”

The portion of the solar
facility covered by the PPA will generate enough electricity to power up
to 25,000 average Texas homes, while displacing  147,000 metric tons of
CO2 annually, equivalent to planting 2.4 million trees per year. The
project will create approximately 350 jobs at the peak of construction
and is also expected to bring benefits to local businesses.

First
Solar recently expanded its manufacturing capacity to meet the
increasing demand for Series 6 modules, starting production at its new
module manufacturing facility in Lake Township, Ohio, in October 2019.
The Company recently celebrated two decades since its founding in 1999,
and 25GWDC of PV modules shipped, making it the only American solar module manufacturing company to achieve this milestone.

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