First Solar Acquires Facility for Use as Ohio Distribution Center
19 Janvier 2024 - 10:05PM
Business Wire
1.2 million square foot facility in Troy Township, Ohio to be
repurposed to optimize distribution of modules
First Solar, Inc. (Nasdaq: FSLR) today announced that it has
acquired a 1.2 million square foot facility in Troy Township, Ohio.
The facility, formerly known as Peloton Output Park, is expected to
be repurposed into a new distribution center serving First Solar’s
Ohio manufacturing footprint, which comprises three manufacturing
facilities with a combined annual nameplate capacity of
approximately 6 gigawatts (GW) of capacity at the end of 2023.
“As we prepare to expand our Ohio capacity by almost a gigawatt
this year, there’s a need for our logistics and distribution
capabilities to scale to match manufacturing growth,” said Mike
Koralewski, chief supply chain officer of First Solar. “We intend
to use this facility to ensure the efficient and timely shipping of
modules to our customers, repurposing it into a dedicated
distribution hub for the largest solar manufacturing footprint in
the Western Hemisphere. We expect that this approach will allow us
to streamline logistics operations, while reducing operating costs
and contributing to our cost reduction roadmap.”
Koralewski added, “In the long term, the flexible space that the
facility affords us could also serve as a light-scale satellite
manufacturing location with the potential to support our factories
and R&D center in Ohio.”
In addition to expanding its Ohio footprint to over 7 GW of
annual nameplate capacity this year, the solar technology and
manufacturing company expects to invest over $2 billion in new
manufacturing facilities in Alabama and Louisiana. First Solar
expects to have 14 gigawatts of fully vertically integrated US
solar manufacturing capacity by 2026. Additionally, First Solar is
investing up to $370 million in a dedicated R&D innovation
center in Perrysburg, Ohio, which is expected to be completed in
2024.
About First Solar, Inc.
First Solar is a leading American solar technology company and
global provider of responsibly produced eco-efficient solar modules
advancing the fight against climate change. Developed at R&D
labs in California and Ohio, the company’s advanced thin film PV
modules represent the next generation of solar technologies,
providing a competitive, high-performance, lower-carbon alternative
to conventional crystalline silicon PV modules. From raw material
sourcing and manufacturing through end-of-life module recycling,
First Solar’s approach to technology embodies sustainability and a
responsibility towards people and the planet. For more information,
please visit www.firstsolar.com.
For First Solar Investors
This press release contains various “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, but are not limited to, statements concerning
1) First Solar’s decision to acquire a 1.2 million square foot
facility in Troy County, Ohio; 2) the intent to repurpose this
facility into a distribution center and the expectation that this
approach will streamline logistics operations, while reducing
operating costs and contributing to the company’s cost reduction
roadmap; 3) the expectation that First Solar’s Ohio manufacturing
footprint will exceed 7 GW of annual nameplate capacity in 2024; 4)
the expectation that First Solar will invest over $2 billion in two
new manufacturing facilities in Alabama and Louisiana; 5) the
expectation that First Solar will have over 14 GW of annual
nameplate capacity by 2026; and 6) the expectation that First
Solar’s new R&D center in Ohio will be completed in 2024. 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 First Solar’s current expectations
and First Solar’s projections about future events and therefore
speak only as of the date of this release. You should not place
undue reliance on these forward-looking statements. First Solar
undertakes no obligation to update any of these forward-looking
statements for any reason, whether as a result of new information,
future developments or otherwise. These forward-looking statements
involve known and unknown risks, uncertainties, and other factors
that may cause First Solar’s 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 under the captions
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” of our most recent
Annual Report on Form 10-K and our subsequently filed Quarterly
Reports on Form 10-Q, as supplemented by our other filings with the
Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20240119299181/en/
Media Reuven Proença
First Solar Media reuven.proenca@firstsolar.com
Investors Richard
Romero First Solar Investor Relations
investor@firstsolar.com
First Solar (NASDAQ:FSLR)
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