France's Akuo orders 500 MW of First Solar modules
First Solar's Series 6 PV modules. Image by: First Solar.
French renewable power producer and developer Akuo has placed an order with First Solar Inc (NASDAQ:FSLR) for 500 MW direct current (DC) of thin-film photovoltaic (PV) modules for a project in the US and some other overseas markets.
The multi-year agreement calls for First Solar to deliver 200 MW DC for a utility-scale project in the US during the first half of 2024. The rest of the PV panels are to be supplied in 2025-2026 for projects in Europe or other regions where Akuo is present.
“The solar industry operates against a backdrop of volatility and uncertainty, and this agreement is part of a broader effort to reduce the long-term supply risks of our global portfolio to actually deliver our projects,” said Eric Scotto, CEO of Akuo.
First Solar has existing factories in the US, Vietnam and Malaysia and is currently building its third manufacturing facility in the state of Ohio along with a new 3.3-GW factory in India. Including the two ongoing projects and some optimisations, the company anticipates doubling its nameplate manufacturing capacity to 16 GW in 2024.