First Solar announces expansion
The new agreements expand contracted module volume by a total of 557MW, allowing for additional sales of approximately US$1 billion at an assumed exchange rate of US$1.30/€1.00 over the period of 2008 to 2012. The agreements are structured on terms similar to First Solar's existing long term supply agreements.
To meet the demand expected from the sales contracts, First Solar's board of directors has approved the construction of a fourth manufacturing plant in Malaysia with four production lines, bringing the total number of production lines to 16 for the Malaysian Manufacturing Centre. The new plant is scheduled to start production in the second half of 2009 and will be built adjacent to the three previously announced plants currently under construction in Malaysia.
