bp, First Solar Sign PV Module Supply Agreement

Lightsource bp and integrated energy company bp have placed multi-year orders for up to 5.4 GW combined of First Solar Inc.’s advanced, ultra-low carbon thin film photovoltaic (PV) solar modules. As part of the deal, Lightsource bp and bp have placed firm orders for approximately 4.4 GW DC of modules, with options for an additional 1 GW DC.

Lightsource bp has agreed to procure up to 4.3 GW DC of modules for its U.S. utility-scale projects, and bp will procure up to 1.1 GW DC to power its 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. Under the agreement, First Solar has firm orders for 1.55 GW DC of modules in 2023, 1.3 GW DC in 2024, and 1.55 GW DC in 2025.

“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,” says Kevin Smith, CEO of Americas for Lightsource bp. “As we continue to grow and progress our 10 GW development pipeline across America, in addition to our partner bp’s 9 GWs, 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.”

“To help reach our net zero ambition and develop 50 GW of renewable power by the end of this decade, we continue to invest in clean, reliable energy in the U.S.,” adds Felipe Arbelaez, bp’s senior vice president of zero carbon energy. “These modules are a critical step in delivering our 9 GW solar pipeline that will provide affordable energy, create jobs, bolster the supply chain and deliver the type of returns our investors expect. This is exactly the type of energy we want to develop and deliver as we continue to build out our renewable pipeline and ultimately strengthen confidence in our target of delivering 20 GW of developed renewables by 2025.”

Lightsource bp and bp will benefit from the evolution of First Solar’s advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement. The companies will also have access to First Solar’s American-made solar modules produced at its fully vertically integrated manufacturing complex in Ohio.

“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,” said Georges Antoun, chief commercial officer at First Solar. “We’re delighted that bp and Lightsource bp have placed their trust in us and our technology to help power their growth in the United States.”

In addition to the multi-year module sales agreement, First Solar also signed a memorandum of understanding (MoU) to explore opportunities to source electricity from generation assets developed, owned and operated by Lightsource bp in Ohio. When it joined RE100 in 2020, First Solar committed to powering 100% of its global manufacturing operations with renewable energy by 2028, with an interim goal of transitioning its facilities in the U.S. to carbon-free electricity by 2026.

Original Source: https://solarindustrymag.com/lightsource-bp-bp-first-solar-sign-photovoltaic-module-supply-agreement