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First Solar Announces 380 Megawatt Increase in Orders for 2011

^{Published on 2010-10-06 14:26:12 - Market Wire}
 

TEMPE, Ariz.--([ BUSINESS WIRE ])--First Solar, Inc. (Nasdaq: FSLR) today announced that it has signed agreements with seven key customers for a 380 megawatt increase in orders for 2011 over previously announced volumes. The expanded contracts are with existing customers and will serve predominantly European markets.

"The additional volumes will allow First Solar to continue to scale and contribute to making solar electricity more affordable globally."

aOur customers continue to expect robust growth in the market for solar electricity in Europe next year,a said Stephan Hansen, managing director of First Solara™s European sales and customer service organization. aThe additional volumes will allow First Solar to continue to scale and contribute to making solar electricity more affordable globally.a

The new contracts were all signed in recent weeks and follow announcements that First Solar is planning to add manufacturing capacity in Germany and France in order to better meet local demand and to encourage the development of the market for utility-scale solar electricity.

About First Solar, Inc.

First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. The company is delivering an economically viable alternative to fossil-fuel generation today. 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 ].

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.