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Topaz Solar Farm, North County Watch, and Carrizo Commons Reach Agreement on Topaz Solar Farm

^{Published on 2011-09-30 13:42:04 - Market Wire}
 

SAN LUIS OBISPO, Calif.--([ BUSINESS WIRE ])--Topaz Solar Farms, LLC, a subsidiary of First Solar, Inc. (Nasdaq: FSLR), has reached an agreement with North County Watch and Carrizo Commons to dismiss their lawsuit against the 550-megawatt Topaz Solar Farm project that First Solar is developing in San Luis Obispo County.

Topaz has committed to decommissioning and restoration of habitat at the project site after 35 years of operation. Topaz will also place a conservation easement on the land and provide an endowment for managing the land in perpetuity. In addition to providing a timeframe for decommissioning and restoration, the new agreement provides enhanced communication, collaboration, research and monitoring measures, including a Biological Working Group.

Combined with other off-site lands Topaz is conserving, this agreement will support the preservation of approximately 22,000 acres to be protected in perpetuity following the end of project operations.

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 [ http://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.