First Solar, Inc. (Tempe, Arizona) on October 29th, 2008 announced that it had entered into new long-term supply agreements for thin film photovoltaic modules with Sorgenia Solar S.l.r. (Rome, Italy), and that it had extended agreements with existing customers, namely EDF Energies Nouvelles (Paris, France), Ecostream (Utrecht, Netherlands), Juwi Holding AG (Wörrstadt, Germany) and Phoenix Solar AG (Sulzemoos, Germany). Sorgenia Solar, founded in 2005 by its mother company Sorgenia, is a developer of large-scale, grid connected solar power plants in Italy. The new agreements expands First Solar’s contracted module volume by a total of 525 megawatts (MW), allowing for additional sales of approximately $800 million at an assumed exchange rate of $1.15/€1.00 over the period of 2009 to 2013, First Solar reports in a press release.

The agreements were structured on terms similar to First Solar's existing long-term module supply agreements.

Widening and deepening of partnerships in Europe

"With strong market growth in Italy we are pleased to announce our new partnership with the Italian Utility company Sorgenia Solar, who is well positioned to develop solar power plants in this important region," said Mike Ahearn, CEO of First Solar. "These new module supply agreements and contract extensions enable our partners to increase solar electric generation in multiple markets throughout Europe and demonstrate the successful partnerships First Solar has established with the world's leading project developers and system integrators", Ahearn added.

2008-11-05 | Courtesy: First Solar, Inc. | solarserver.com © Heindl Server GmbH