First Solar Secures Syndicated Development Loan Facility from Mizuho Bank for Utility-Scale Solar Projects in Japan

TOKYO–(BUSINESS WIRE)–First Solar, Inc. (Nasdaq: FSLR) announced today that it has signed a
syndicated development loan facility agreement of approximately 7
billion yen (US$64 million) with Mizuho Bank Ltd. for its utility-scale
solar project pipeline in Japan using First Solar modules.

This financing represents the first syndicated solar project development
loan facility arranged and participated in by Mizuho Bank, and it is the
third loan facility First Solar has secured with Mizuho Bank. Today’s
agreement demonstrates First Solar’s project development capabilities
and track record in successfully financing and delivering projects that
support Japan’s goal to be powered by reliable and affordable solar
electricity.

This financing arrangement will facilitate utility-scale solar projects
that will utilize First Solar’s next generation Series 6 technology,
confirming the performance and reliability advantages inherent to First
Solar’s technology in Japan. First Solar technology is bankable
worldwide and proven domestically to consistently perform above
expectations in operation. First Solar’s industry-leading combination of
module power output, superior energy production, and stable performance
allows mega-solar power plant owners to produce more energy and revenue
than alternative technologies.

First Solar provides energy solutions that support Japan’s renewable
energy target of 7 percent solar by 2030. First Solar is committed to
the Japan market with a long-term sustainable business model.

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.

For First Solar Investors

This release contains forward-looking statements which are made pursuant
to safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: effects on our financial statements resulting
from certain module manufacturing changes and associated restructuring
activities; our business strategy, including anticipated trends and
developments in and management plans for our business and the markets in
which we operate; future financial results, operating results, revenues,
gross margin, operating expenses, products, projected costs (including
estimated future module collection and recycling costs), warranties,
solar module technology and cost reduction roadmaps, restructuring,
product reliability, investments in unconsolidated affiliates and
capital expenditures; our ability to continue to reduce the cost per
watt of our solar modules; our ability to expand manufacturing capacity
worldwide; our ability to reduce the costs to construct PV solar power
systems; research and development programs and our ability to improve
the conversion efficiency of our solar modules; sales and marketing
initiatives; and competition. These forward-looking statements are often
characterized by the use of words such as “estimate,” “expect,”
“anticipate,” “project,” “plan,” “intend,” “seek,” “believe,”
“forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,”
“might,” “will,” “could,” “predict,” “continue” and the negative or
plural of these words and other comparable terminology. Forward-looking
statements are only predictions based on our current expectations and
our projections about future events. You should not place undue reliance
on these forward-looking statements. We undertake no obligation to
update any of these forward-looking statements for any reason. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to differ materially
from those expressed or implied by these statements. These factors
include, but are not limited to, the matters discussed in Item 1A “Risk
Factors,” of our most recent Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, and other filings with the Securities and Exchange
Commission.

Contacts

First Solar Media
Burson-Marsteller
Hitomi Onda, Eiko Aiba
+81
03-3264-6701
[email protected]
or
First
Solar Media
Jennifer Abbott
+61 2 9002 7736
[email protected]
or
First
Solar Investors
Stephen Haymore
+1 602-414-9315
[email protected]