First Solar has signed a master supply agreement (MSA) to supply 4 GW DC of thin film photovoltaic (PV) solar modules to Silicon Ranch.
Silicon Ranch’s projects in the United States will receive PV modules from 2023 to 2025. Silicon Ranch will benefit from the evolution of First Solar’s advanced Cadmium Telluride (CadTel) thin film module technology platform over the span of the agreement.
In 2015, Silicon Ranch selected First Solar to supply the modules for its Aerojet Rocketdyne Solar Farm in Arkansas, the state’s first utility-scale solar project. The partnership between these industry leaders has grown substantially across the US since then, with over 30 projects totaling more than 1 GW.
“We are proving that we can sequester carbon on our sites through our Regenerative Energy model of land management, and this partnership with First Solar enables us to improve the carbon footprint of our module supply,” said Reagan Farr, co-founder and chief executive officer, Silicon Ranch.
“Long-term module supply agreements with a trusted partner provide a vital hedge against the pricing and supply uncertainties that have impacted the solar industry over the past few years,” Georges Antoun, chief commercial officer, First Solar, said in a news statement.
First Solar is the only US-headquartered company among the world’s ten largest solar manufacturers.
Nashville-based Silicon Ranch owns, operates, and maintains more than 150 solar generating facilities in 15 states from New York to California. Earlier this year, Silicon Ranch completed a $775 million equity raise led by Manulife Investment Management.