Intersect Power will be the largest purchaser of First Solar’s solar module technology by 2029.
Major customer
Intersect Power is purchasing an additional 4.9GW from First Solar for delivery between 2025 and 2029. In total, the company would order 7.3GW of modules during 2022. Even before First Solar’s Q3 2022 results were released, Intersect was contracting to purchase 1GDW.
The company will receive Series 6 Plus and Series 7 modules. It will implement them in the United States between 2025 and 2029 via solar, storage and renewable hydrogen projects. Intersect Power was already a very large customer with 4.1GWDC of orders occurring between 2019 and 2021.
The 2022 transactions strengthen its position and make it a global buyer and operator of photovoltaic module technology. This extremely attractive technology will deploy 11.4GWDC of capacity by 2029. First Solar’s business manager says:
“Intersect Power was an early pioneer of long-term, multi-year procurement and has benefited from the certainty of supply and price stability that this approach provides. We are proud of this enduring partnership and are excited that as Intersect Power continues to expand, its growth will be supported by U.S. solar technology produced by First Solar.”
State-of-the-art technology
The modules offer an alternative to the photovoltaic panels traditionally used in solar power generation. There is currently no other photovoltaic technology on the market with such a small carbon footprint. In addition, First Solar is the only company of its size to be a member of the Responsible Business Alliance (RBA).
This industry coalition supports the rights and welfare of workers in global supply chains. In addition, its technology is EPEAT (Electronic Product Environmental Assessment Tool) rated for sustainability. With a total investment of $4 billion, First Solar continues to expand its domestic and transnational production capacity.
Thus, it should build its fourth American plant, in the southeast of the United States. By 2025, its annual manufacturing capacity in the U.S. will increase to more than 10GWDC. Finally, it plans to create an innovation center in Ohio to make its solar modules even more competitive.
