First Solar nabs 1-GW solar module deal from Leeward Renewable

First Solar Inc (NASDAQ:FSLR) has bagged a deal to supply 1 GW DC of thin-film photovoltaic (PV) modules for projects part of independent power company Leeward Renewable Energy LLC’s development pipeline in the US.

The solar product manufacturer will deliver the equipment under a multi-year framework supply agreement, Leeward Renewable said on Monday, adding that the order secures its planned construction portfolio through 2024.

The modules will be deployed at Leeward Renewables’ sites over 2023 and 2024. The projects are part of the company’s 20-GW solar development and construction pipeline.

“This agreement creates significant growth opportunities bringing stability, predictability and diminished risk from geopolitical tensions to our solar module supply chain, and by extension to our finance, construction, and offtake partners,” said Eran Mahrer, Chief Strategy Officer at Leeward Renewable.

The latest contract further expands the relationship between the two companies. Including previous orders for First Solar hardware, Leeward Renewable has secured more than 3 GW of PV modules, which will enable it to build 18 solar parks between 2024 and 2024.

First Solar expects its nameplate manufacturing capacity to double to 16 GW by 2024. The company is currently building a 3.3-GW factory in Ohio and a 3.3-GW plant in India.

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