Lightsource bp signed a multi-year order for up to 5.4 GW of First Solar‘s thin-film photovoltaic solar modules anticipating a multi-gigawatt portfolio of solar projects over the next few years.
Lightsource bp has agreed to procure up to 4.3-GWDC of modules for its U.S. utility-scale projects, and bp will procure up to 1.1 GWDC to power their projects being developed by Lightsource bp.
bp acquired the projects as part of its net-zero ambition and target to grow its net developed renewable generating capacity to 20 GW by 2025 and 50 GW by 2030. Planned deployments for both companies include projects in Arkansas, Kentucky, Ohio, Pennsylvania, and Texas.
The framework agreements, the largest in First Solar’s history, will provide modules scheduled to be delivered between 2023 and 2025 to support the companies’ solar development pipelines in the United States.
“This landmark solar industry procurement deal is a testimony to Lightsource bp’s exponential growth in the United States and our confidence in First Solar’s technology,” said Kevin Smith, CEO of Americas at Lightsource bp. “As we continue to grow and progress our 10-GW development pipeline across America, in addition to our partner bp’s 9 GW, executing significant long-term procurement agreements with bankable, world-class suppliers like First Solar enables us to deliver on our growth plans and industry-leading global target of 25 GW of solar by 2025. It also translates into competitively priced electricity for our customers.”
First Solar will supply Lightsource bp with its recently-developed cadmium-telluride (CadTel) modules that are produced at its vertically-integrated manufacturing complex in Ohio. The modules were designed and developed at the company’s research and development centers in California and Ohio.
“The U.S. solar industry is at an important inflection point where it must continue the charge towards delivering 45% of our country’s electricity by 2050 while addressing the risks and uncertainty posed by increasingly volatile solar panel production, pricing and supply,” said Georges Antoun, CCO, First Solar. “This is where we come in. Our ability to help our customers manage these risks by providing long-term firm pricing and supply commitments, backed by First Solar’s reputation, is a key differentiator.”
In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio. First Solar committed to powering 100% of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its U.S. facilities to carbon-free electricity by 2026.
First Solar also operates a recycling program that recovers more than 90% of CadTel for use in new modules.