First Solar Presents First Functional Series 6 Module

December 5, 2017

Production-scale throughput marks a major milestone in factory retooling

Expansion of Vietnam production facility also announced

TEMPE, Ariz.–(BUSINESS WIRE)–First Solar, Inc. (Nasdaq: FSLR) today unveiled the first functional
Series 6 thin film photovoltaic module off the company’s Perrysburg,
Ohio, new production line. Presented during a meeting with investment
analysts at the Perrysburg facility, the large area Cadmium Telluride
(CdTe) glass-on-glass module was part of the first batch of material run
completely through the recently activated line. This marks a major
milestone in a factory retooling that began just under one year ago, and
included approximately $177 million in capital investment.

The new line is expected to be producing commercial product by early in
the second quarter of 2018, and will have an annualized output of
600MWdc when operating at full capacity.

Series 6 is expected to enter the commercial market with a power rating
of 420-445 watts and conversion efficiency of over 17 percent. Measuring
approximately 2 meters by 1.2 meters, Series 6 modules will provide more
watts per lift than comparable crystalline silicon solar panels, and can
be installed on virtually any ground-based PV mounting system.

“This is an extraordinary accomplishment, by any measure,” said First
Solar CEO Mark Widmar. “Last November, we were in full Series 4
production mode. Since our decision at the end of 2016 to rapidly
transition to Series 6, we’ve hit every incremental target with
precision. We are absolutely delighted to be on track for delivery of
commercial product early next year.”

Also during the meeting with analysts, First Solar announced it is
expanding its production facility in Vietnam, essentially doubling
production capacity of the initial site, which is still under
construction. Annualized production capacity in Vietnam, when fully
operational, will be 2.4GWdc. This, in combination with Perrysburg and
facilities in Kulim, Malaysia, will give First Solar a total Series 6
manufacturing capacity of approximately 5.4GWdc by 2020, and represents
approximately $1.4 billion in capital investment.

In late November of 2016, as a response to the highly competitive and
dynamic PV market environment and customer demand for higher efficiency
modules, First Solar made a strategic decision to accelerate development
and production of Series 6. The new product, still based on First
Solar’s unique thin film CdTe PV technology, increases physical
dimensions and performance characteristics while adding an under-mount
frame that allows for simple, high-velocity installation of the product
in the field. With superior temperature coefficient, spectral response
and shading behavior, Series 6 modules will generate significantly more
energy than conventional crystalline silicon modules.

Widmar said First Solar will continue to maintain some Series 4
production at the Kulim plant as long as economic global demand calls
for the product.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
The company’s integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar’s renewable energy systems protect and enhance the environment.
For more information about First Solar, please visit www.firstsolar.com.

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