SCE Media Contact: Vanessa McGrady, (626) 302-2255
Edison International Investor Relations: Scott Cunningham, (626) 302-2540
First Solar Media Contact: Alan Bernheimer, (602) 414-9361
First Solar Investor Relations: Larry Polizzotto, (602) 414-9315
ROSEMEAD, Calif., Feb. 9, 2011 — Southern California Edison (SCE) has signed a power purchase agreement with First Solar for 250 megawatts AC of electricity to be generated with solar photovoltaic panels. This emission-free power source is the equivalent, in greenhouse gas terms, of removing 30,000 cars from the road annually.
The solar panels will be ground-mounted on about 2,500 acres of public land near Primm, Nev. First Solar is developing the project, named Silver State South, which will interconnect with SCE’s proposed Eldorado-Ivanpah 220-kilovolt transmission line. The project is expected to begin producing electricity as early as 2014 and be fully operational by May 2017. It will create about 300 construction jobs, and the solar panels will be recycled after their useful lifespan.
“First Solar’s industry-leading technology makes solar PV an excellent option for clean, emission-free power we can deliver to our customers,” said Marc Ulrich, SCE vice president, Renewable and Alternative Power. “When we get projects of this magnitude, we make great progress toward our renewable energy goals.”
This contract is subject to California Public Utilities Commission approval.
“This agreement represents another important milestone toward our goal of grid parity,” said Frank De Rosa, First Solar senior vice president of North American Project Development. “First Solar applauds SCE’s commitment to renewable energy and looks forward to bringing this project to completion.”
Southern California Edison is the nation’s leading utility for renewables. In 2009, SCE delivered 13.6 billion kilowatt hours of renewable power to its customers, about 17 percent of its total power portfolio.
About Southern California Edison
An Edison International (NYSE:EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of nearly 14 million via 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California. Follow us at www.twitter.com/socaledison.
About First Solar
First Solar (Nasdaq:FSLR) manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic system solutions. By continually driving down manufacturing costs, First Solar is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that 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 the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.