First Solar, Inc.
Prime Road Group and First Solar Complete 18MW of Solar Farms in Thailand
Prime Road Group and First Solar, Inc. (Nasdaq: FSLR) welcome the completion of four solar farms totaling 18 megawatts (MWDC) of capacity in Thailand. Located across the Ayutthaya and Pathum Thani Provinces, the Prime Road Group Co-Op Project (Project) utilizes more than 158,500 First Solar thin-film photovoltaic (PV) modules to produce approximately 29,600 megawatt-hours (MWh) of clean electricity in the first year of operation. Developed under Thailand's Governmental Agency and Agricultural Cooperatives Program, the completion marks an important milestone for the country as it continues to grow its installed solar PV capacity and target 30 per cent renewable energy by 2036.
Thailand-based developer Prime Road Group has partnered with First Solar as the module supplier and Bouygues-Thai Ltd - a subsidiary of the French Bouygues Group - as the Engineering, Procurement and Construction contractor for the delivery of the Project. The Project will produce enough clean solar energy each year to power 12,000 homes in Thailand and displace approximately 14,000 metric tons of carbon dioxide annually.
"We have developed a broad range of renewable energy projects in Thailand and Japan, and the Prime Road Group Co-Op Project adds to our growing regional portfolio of high-quality solar farms developed, owned and operated by our group," said Surachet Chaipatamanont, Prime Road Group's Director. "First Solar's thin-film technology was selected for Prime Road Group Co-Op Project because of its superior energy performance attributes compared to traditional solar modules, making it suitable for the hot and humid conditions in Thailand."
The First Solar Series 4 thin-film PV modules deployed at the four sites are ideally suited to the local environmental conditions in Southeast Asia, due to their superior temperature coefficient, better shading response, and better spectral response. This performance advantage allows for optimal performance and over the course of the Project's operational life will translate into significant gains in power output.
"The completion represents a significant installation of First Solar modules in Southeast Asia, and we congratulate Prime Road Group and Bouygues-Thai on the successful delivery of this milestone project today," said Robert Bartrop, First Solar's Director of Business Development in Southeast Asia and China. "First Solar's partnership with the Prime Road Group Co-Op Project reflects the value of First Solar technology in hot and humid climates such as Thailand, and we look forward to supporting future projects and the country's renewable energy targets."
"Bouygues-Thai is very proud to have contributed to this project, committing to a higher level of performance to the Prime Road Group project thanks to the technical advantage of the thin-film modules developed by First Solar," said Patrice Bard, Managing Director of Bouygues-Thai Ltd.
The electricity from the Prime Road Group Co-Op Project will be sold via a 25-year Power Purchase Agreement with the Provincial Electricity Authority of Thailand at a rate of THB 5.66 per kilowatt hour.
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.
About Prime Road Group Co., Ltd.
Prime Road Group (PRG) is a leading investment group based in Thailand, with diversified interests in Renewable Energy, Real Estate and Waste Management, and a regional focus in the Asia-Pacific. In its Renewable Energy business, it develops, owns and operates projects in Thailand and Japan, with a portfolio of over 100MW of Solar PV in operation and a significant pipeline in development. It aims to expand its presence across SE Asia and other emerging markets by tapping into the growing demand for renewable energy in the region.
For First Solar Investors
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