Tempe, 06. September 2011, First Solar (Nasdaq: FSLR) today announced a 100 megawatt solar module supply agreement with Reliance Power. First Solar will deliver 40MW of advanced thin film modules to Reliance Power by the end of 2011 for its solar power project in Jaisalmer, which will supply renewable electricity to Mumbai. The delivery of the remaining 60MW is expected be completed in 2012. This agreement is the largest PV module supply agreement in India to date.
"We are delighted to collaborate with Reliance Power, one of India's leading independent power producers," said Jim Brown, president of First Solar's Utility Systems Business Group. "With strong growth projections, India is expected to become one of the world's major solar markets, due to its abundant solar resource and significant energy demand. This agreement with Reliance Power continues First Solar's momentum in India, helping develop the country's long-term, sustainable solar market," Brown added.
The U.S. Export-Import Bank approved an $84.3 million direct loan on Aug. 25 to Reliance Power's Dahanu Solar Power Pvt. unit to purchase First Solar panels for the first 40MW of the project.
Source: First Solar, Inc.