GlobeNewswire Inc | Sep 23, 2020 08:09AM EDT

September 23, 2020

59MWDC facility is built on disused landfill and is the largest urban photovoltaic power plant in Europe

TEMPE, Ariz., Sept. 23, 2020 (GLOBE NEWSWIRE) -- First Solar, Inc. (Nasdaq: FSLR) today announced that JP Energie Environnement (JPee) is using its advanced Series 6 photovoltaic (PV) solar modules to power the 59-megawatt (MW)DC Labarde solar power plant.

The facility, believed to be the largest urban solar PV power plant in Europe, is being built on the site of a former open-air municipal landfill in Bordeaux in South West France. The land was designated as a wasteland, unfit for residential or commercial buildings, or agricultural use. JPee, however, secured a 35-year lease for the 600,000-square meter site and began developing the Labarde solar project, which was selected under successive rounds of the PV tenders organized by Frances Commission de Rgulation De Lnergie(CRE).

Based in Caen, France, JPee has over 15 years of experience developing, financing, constructing, and operating renewable energy assets. The company operates 263MWDC of wind and solar projects, generating enough energy to power 230,000 average homes, making it one of Frances leading independent renewable energy producers.

The Labarde project demonstrates the positive role that solar can play within a community. Its role goes beyond transforming sunlight into solar electricity and supporting Frances decarbonization goals, as it helps heal a piece of land that has no other practical use, said Xavier Nass, Chairman, JPee. While solar is inherently sustainable, this project is powered by the lowest carbon solar technology and sets new benchmarks for sustainability. We thank First Solar for standing behind its commitments and delivering on its promises to help ensure that this important project can be delivered on schedule.

Designed and developed at the Companys research and development (R&D) centers in the United States, First Solars Series 6 PV module sets industry benchmarks for quality, reliability, design, and environmental performance. With a carbon footprint that is up to six times lower than crystalline silicon PV panels manufactured using conventional, energy-intensive production methods, Series 6 delivers a superior environmental profile and the lowest carbon solar electricity available today.

At First Solar, we put sustainability at the heart of our business, and were thrilled that JPee is powering this landmark facility with First Solars advanced solar module technology, said Pascal Tirtiaux, First Solars head of business development for France. Our transparency and commitments as a module provider plays a vital role in ensuring that developers like JPee can maintain their competitiveness and their project execution timelines. Were thankful for the trust that Xavier and his team have placed in First Solar.

With over 1,100MWs installed, First Solars advanced module thin film technology forms the backbone of Frances solar fleet. The Companys modules have been deployed across over 400 projects in France ranging from large-scale ground-mounted plants to commercial and industrial (C&I) projects.

About First Solar, Inc.First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. The companys 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 Solars renewable energy solutions protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar InvestorsThis release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the order of Series 6 modules by JP Energie Environnement (JPEE) for its 59MWDC Labarde solar project. These forward-looking statements are often characterized by the use of words such as estimate, expect, anticipate, project, plan, intend, seek, believe, forecast, foresee, likely, may, should, goal, target, might, will, could, predict, continue and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.

Media Investors

Reuven Proena Mitchell EnnisFirst Solar Media First Solar Investor Relationsreuven.proenca@firstsolar.com mitchell.ennis@firstsolar.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/03548f61-5af7-42a3-986d-e77ddea48ad5