First Solar Pens Contract With Energix Renewables For Solar Modules

First Solar Inc FSLR inked a deal with Energix Renewables to deliver 5 gigawatts (GWDC) ultra-low carbon thin film solar modules. The financial terms were not disclosed.

The modules, which are expected to be delivered between 2026 and 2030, will power Energix projects in Israel, Poland, and the U.S.

Energix has also penned a deal with First Solar Recycling Services to manage end-of-life handling of decommissioned modules and has earlier placed orders of over 3.5 GWDC since 2017.

"This deal demonstrates once again the substantial place Energix takes as one of our biggest client worldwide, and we feel honorable to take active part in Energix's significant growth, especially in the United States. We are pleased that Energix will power its asset portfolio with First Solar's module technology," said Georges Antoun, chief commercial officer. 

FSLR plans to invest around $1.3 billion to boost its U.S. manufacturing presence to about 10.9 GWDC of annual nameplate capacity (from over 6.5 GWDC) by 2026. 

The company also aims to spend $185 million to expand its existing manufacturing footprint in Ohio and $1.1 billion for a new 3.5 GWDC facility in Alabama. 

Apart from this, FSLR also expects to expend up to $370 million for an R&D innovation center in Ohio, expected to be finished in 2024.

Also Read: First Solar Is Balancing Rising Capacity And Falling Prices: Analyst Initiates With Cautious Outlook

Price Action: FSLR shares are trading higher by 0.44% at $192.14 premarket on the last check Monday.