21/04/2009 09:00:00

First Solar Secures Financing for 53 Megawatt Solar Power Plant in Germany

Related content
30 Oct - 
Market Trends Toward New Normal in M/I Homes, Omnicell,..
25 Oct - 
First Solar, Inc. Announces Third Quarter 2018 Financia..
24 Oct - 
Origis Energy Acquires 200MWac GA Solar 4 Project from ..

First Solar, Inc. (Nasdaq: FSLR) and Juwi Holding AG today announced

they have secured financing for a 53 megawatt (MW) DC photovoltaic (PV)

power plant near the German city of Cottbus.

More than 80 percent of the required project capital is financed through

non-recourse debt from a consortium of banks. First Solar and Juwi

intend to sell the majority of the project after its completion.

Construction of the project began in January 2009, and the first 15MW

have been completed. The remaining 38MW are scheduled to be completed by

the end of 2009.

The project is being constructed on 162 hectares of land that is part of

the Soviet Army’s former 26,000 hectare Lieberose training area north of

Cottbus in eastern Germany. The project’s low cost enables the required

return to fund an attractive land lease for the State of Brandenburg.

The lease, in turn, finances the environmental cleanup of this former

military zone, which is littered with tons of land mines, grenades and

other munitions.

Matthias Platzeck, minister president of the German state government of

Brandenburg, where Lieberose is located, said the project is a model for

the conversion of former military land to productive use. “This kind of

project helps us heal the scars of the Cold War and meet our ambitious

targets for renewable energy production at the same time,” he said.

“First Solar’s mission is to enable a world powered by clean, affordable

solar electricity,” said Stephan Hansen, managing director, First Solar

GmbH. “This project alone is expected to displace approximately 35,000

tons of C02 emissions a year. But we are particularly proud of this

project because it adds an additional element to ‘clean.’ Not only will

the project produce clean electricity, but it will also result in the

removal of hazardous munitions from this project site.”

Upon completion, the PV power plant will consist of approximately

700,000 modules and is projected to be the largest in Germany—producing

enough power to provide for the annual electricity needs of more than

14,000 homes—and the second largest worldwide.

“The sheer size of the project helps us achieve economies of scale that

are a significant factor in helping PV energy become competitive with

fossil fuels and to be able to provide an increasing contribution to

national renewable energy targets,” said Hansen.

Brandenburg Economics Minister Ulrich Junghanns said the project

underlines the state’s credentials as an energy producer. “The Lieberose

project will shine far and wide and help Brandenburg solidify its top

billing as a center of solar power production,” he said.

Matthias Willenbacher, Juwi chief executive, said, “Large projects like

this one demonstrate that solar power is already capable of making

significant contributions to addressing climate change.” With this

project, Juwi, using First Solar modules, has developed the three

largest PV power plants in Germany.

About First Solar

First Solar, Inc. (Nasdaq: FSLR) manufactures solar modules with an

advanced semiconductor technology and provides comprehensive PV

solutions that significantly reduce solar electricity costs. By enabling

clean, renewable electricity at competitive prices, First Solar provides

an economic and environmentally responsible alternative to existing

peaking fossil-fuel electric generation. First Solar PV power

plants operate with no water, air emissions or waste stream. First Solar

set the benchmark for environmentally responsible product life cycle

management by introducing the industry's first comprehensive collection

and recycling program for solar modules. From raw material sourcing

through end-of-life collection and recycling, First Solar is focused on

creating cost-effective renewable energy solutions that protect and

enhance the environment. For more information about First Solar, please

visit www.firstsolar.com,

or www.firstsolar.com/media to

download photos.

For First Solar Investors

This release contains forward-looking statements which are made pursuant

to the safe harbor provisions of Section 21E of the Securities Exchange

Act of 1934. The forward-looking statements in this release do not

constitute guarantees of future performance. Those statements involve a

number of factors that could cause actual results to differ materially,

including risks associated with the company's business involving the

company's products, their development and distribution, economic and

competitive factors and the company's key strategic relationships and

other risks detailed in the company's filings with the Securities and

Exchange Commission. First Solar assumes no obligation to update any

forward-looking information contained in this press release or with

respect to the announcements described herein.

About the Juwi Group

The Juwi Group (www.juwi.de)

was founded in 1996 by Matthias Willenbacher and Fred Jung. The CEOs

together transformed the company from a two-person operation focusing on

wind farm project development into an internationally active group with

around 500 employees and an annual turnover of more than 400 million

euros. As well as solar power and bioenergy, Juwi also specializes in

wind and water power, and geothermal energy. To date, Juwi has installed

more than 300 wind turbines producing a total output of over 450 MW,

while in the solar sector, Juwi has set up around 800 PV systems with a

total capacity of more than 220,000 KW as of December 2008. Willenbacher

and Jung also share a common goal: energy supply from purely

regenerative sources - 100% dedication to 100% renewable energies. The

"100% renewable" campaign embodies this goal.

First Solar, Inc.

U.S.:

Lisa Morse

+1-602-414-9361

media@firstsolar.com

Europe:

Brandon

Mitchener

+49-6131-1443-399

media@firstsolar.com

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
FSIS Recall Release 112-2018 Salmonella
2
Gulf Island Completes Sale of Texas North Yard
3
SUEZ FILES INTENT TO ACQUIRE EAGLE WATER IN IDAHO
4
Laureate Education Announces Pricing of Public Offering by Selling Stockholder
5
AMCI Acquisition Corp. Announces Pricing of $200,000,000 Initial Public Offering

Related stock quotes

First Solar Inc 44.08 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Berlingske Media 2018  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
16 November 2018 05:31:22
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20181114.1 - EUROWEB7 - 2018-11-16 06:31:22 - 2018-11-16 05:31:22 - 1000 - Website: OKAY