First Solar, Inc. (Nasdaq: FSLR) today announced it has started
constructing the 139 megawatt Campo Verde Solar Project, located near El
Centro in Imperial County, Calif. The solar power plant is expected to
be completed in 2013.
Economic benefits of the project include approximately 250 construction
jobs, as well as over $230 million in new economic activity to the
Imperial Valley, according to a county study.
The project gained the approval it needed on Dec. 18, 2012, from the
Imperial Irrigation District (IID) for easements required to cross IID's
Westside Main Canal with the project's transmission line. Earlier
approvals included a decision to issue a Right of Way grant from the
U.S. Bureau of Land Management (BLM) and a Conditional Use Permit from
"The County of Imperial is very pleased to see the commencement of
construction of the Campo Verde Solar Project, which brings numerous
benefits to the Valley and our citizens," said Ray Castillo, County
Board President. "First Solar's project brings much needed jobs and
economic development to the Valley at a time when it is sorely needed.
The project also pays added tax revenue, funds for agricultural benefits
and community benefits while helping the County diversify its economy.
We've been working to attract projects like this for the past five or
six years and are glad to see it's finally happening. These projects are
really our legacy for the Imperial Valley."
"First Solar is grateful to the IID, Imperial County, and the BLM for
their support of this project," said James F. Cook, First Solar Project
Development Director. "Campo Verde is creating badly needed jobs and
will help the county and state reach their renewable energy goals."
First Solar will construct the project using its advanced thin film PV
modules that generate clean, renewable energy with no emissions, waste
or water consumption during operation. The project will generate enough
electricity to power approximately 50,000 average California homes,
displacing 80,000 metric tons of CO2 per year, the equivalent
of taking 15,000 cars off the road.
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced thin-film modules. 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 collection and
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 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.
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