First Solar Panels to Power 30,000 Homes
Green Chip Stocks
First Solar (NASDAQ:FSLR) recently announced it will design, construct and maintain two utility-scale PV power projects for AGL Energy Limited.
The projects, with a combined capacity of 159 MW, are being built as part of Australia’s Solar Flagships Program. This program is part of the Australian government’s commitment to deliver more subsidies and funding to help foster growth of renewable electricity generation.
The Australian Solar Flagships Program is also offering to help fund the construction and demonstration of large-scale, grid connected solar power stations in the country. It’s because of this program AGL will be able to create a 106 MW project in Nyngan and a 53 MW project in Broken Hill, both of which are in New South Wales.
First Solar, with its superior engineering, will lead the designing and construction of the projects while also maintaining both projects for five years before that responsibility goes to AGL.
“This is a significant step forward for the utility-scale solar industry in Australia—an order of magnitude increase in size—and a testimony to the confidence our customers have in First Solar technology and its performance in some of the hottest and harshest conditions in the world…These projects demonstrate First Solar’s ability to apply its vertically integrated capabilities to deliver competitive, comprehensive, utility-scale solar solutions in future sustainable markets. We look forward to working with AGL on more projects like this in the future,” First Solar CEO Jim Hughes stated.
When the projects are up and running, they will provide enough power for 30,000 homes.
First Solar (NASDAQ:FSLR) to Power 30,000 Homes with Solar originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
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