First Solar has won a contract to supply 600 MW DC of its photovoltaic (PV) solar modules to Azure Power Global in India.
The agreement is the first for production from First Solar’s new manufacturing facility in Tamil Nadu, India, which is expected to be commissioned in the second half of 2023.
Azure is expected to take delivery of First Solar’s Series 7 photovoltaic (PV) solar modules from the fourth quarter of 2023 to 2025.
“Having a long-term agreement with global solar modules technology leaders like First Solar is key to de-risking our supply side with the latest technology available in the market,” said Rupesh Agarwal, acting chief executive officer, Azure Power.
First Solar’s manufacturing facility, located near Chennai, is projected to have an annual capacity of 3.3 GWDC and is expected to produce a version of the company’s Series 7 modules that is optimized for the Indian market.
“This deal demonstrates how developers and power producers in India are taking a strategic view on procurement and securing long-term commitments that help tackle the risks of short-term pricing and supply volatility. When working with First Solar, they benefit from certainty of pricing and supply, and a technology that is advantaged in India’s operating environments,” said Georges Antoun, chief commercial officer, First Solar.
First Solar’s new PV manufacturing facility in India and a third factory in the US are expected to come online in 2023. In addition, First Solar plans to invest up to $1.2 billion in building a fourth factory in the US Southeast and expanding the capacity of its existing manufacturing footprint in Ohio.