First Solar Signs Solar, Storage PPAs with California’s Monterey Bay Community Power & Silicon Valley Clean Energy

Community Choice Aggregators secure electricity from First Solar-developed Rabbitbrush Solar for 15 years

TEMPE, Ariz. and SAN FRANCISCO, April 21, 2020 (GLOBE NEWSWIRE) -- US-headquartered First Solar, Inc. (Nasdaq: FSLR) today announced that it has signed two 15-year Power Purchase Agreements (PPAs) with Community Choice Aggregators (CCAs), Monterey Bay Community Power (MBCP) and Silicon Valley Clean Energy (SVCE).

Under the PPAs, both agencies will buy electricity from the Rabbitbrush Solar project developed by First Solar in Kern County, California. The 100-megawatt (MW)_AC photovoltaic (PV) solar plant, scheduled to be completed in the second quarter of 2022, will also feature 20MW of battery storage capacity, capable of delivering electricity for 2.5 hours.

“We are delighted to partner with First Solar to add to our growing solar generation and battery storage portfolio,” said Tom Habashi, Chief Executive Officer, MBCP. “Responsibly developed to minimize its impact on the ecosystem, and powered by the most eco-efficient solar technology available today, this project mirrors our own commitments to sustainability and the communities we serve.”

The project will be powered by First Solar’s proprietary thin film module technology, designed and developed at the Company’s research and development (R&D) centers in Santa Clara, California, and Perrysburg, Ohio. The technology is the result of over $1bn in cumulative R&D spend, among the highest in the PV manufacturing industry.

“We are thrilled that Rabbitbrush Solar will help deliver clean electricity to Santa Clarans with photovoltaic technology that was developed in Santa Clara by First Solar,” said Girish Balachandran, Chief Executive Officer, SVCE. “Our customers have made an important choice in selecting carbon-free energy, and we are looking forward to adding this project to our long-term efforts to cut energy-related emissions in line with our decarbonization commitments.”

The PPAs are the latest to be signed by First Solar with CCAs in California, enabling the delivery of cleaner solar electricity to several communities across the state. While SVCE provides renewable, carbon-free electricity to 13 communities in Santa Clara County, MBCP sources clean electricity for the Monterey, San Benito, and Santa Cruz counties, as well as parts of San Luis Obispo county.