First Solar designed and is constructing the project using its advanced thin-film photovoltaic modules and will operate and maintain the facility for owners NRG Energy and MidAmerican Solar. Pacific Gas and Electric Company has a 25-year power purchase agreement for the project's electrical output, which is projected to displace approximately 5.5 million metric tons of carbon dioxide over 25 years, the equivalent of taking more than 40,000 cars off the road annually. The facility, which is owned by NRG and MidAmerican Solar, will employ a daily average of 400 to 450 workers during the construction period.
The Agua Caliente project is being financed with support from a loan guarantee from the U.S. Department of Energy’s Loan Programs Office.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. 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 collection and 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 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.