First Solar And Longroad Energy Supercharge Partnership With 2GW Boost, Totaling 8GW Since 2017

First Solar, Inc. FSLR announced that Longroad Energy has agreed to procure an additional 2 gigawatts (GW) of advanced thin film American solar modules.

The order builds on an existing 3.7 GW framework agreement between the two companies and will be delivered between 2027 and 2029. 

The deal increases Longroad Energy's total procurement of First Solar thin-film modules to approximately 8 GW since 2017.

"Our ability to deliver certainty of pricing and supply, domestic manufacturing and supply chains, and a responsibly made solar module optimized for energy provides the value customers, such as Longroad, seek," said Georges Antoun, chief commercial officer of First Solar.

Longroad has developed or acquired 4.3 GW of renewable energy projects across the U.S., with over 2.4 GW of wind, solar, and storage projects operating or under construction.

Expansion Spree

First Solar has embarked on a manufacturing expansion strategy that has grown from approximately 6 GW in 2020 to 13 GW global operational nameplate capacity.

The company will have 25 GW of global nameplate capacity in 2026. 

First Solar commissioned its third Ohio factory earlier this year and is expected to complete a new facility in Alabama and the expansion of its existing Ohio footprint in 2024.

The company has also announced that it will complete a fifth U.S. facility, to be located in Louisiana, in the first half of 2026. 

Additionally, First Solar is investing up to $370 million in a dedicated R&D innovation center in Perrysburg, Ohio, expected to be completed next year.

Price Action: FSLR shares are trading higher by 0.79% to $180.79 on the last check Tuesday.