First Solar, Inc has grown its order book by 1 GW DC after Leeward Renewable Energy (LRE) contracted the US solar module manufacturer to supply this capacity of its 'advanced, ultra-low carbon' thin film panels.
LRE said it will deploy this 1 GW DC capacity for its solar development and construction pipeline across the US counting it at 20 GW over 2023 and 2024.
With this contract, LRE and First Solar's module supply agreements expands to around 3 GW, all of which will be deployed by the former for 18 new sites between 2022 and 2024.
A portfolio company of Canadian pension fund OMERS Infrastructure, Leeward had purchased 1.8 GW of Series 6 and Series 4 solar modules from First Solar in January 2021 when it acquired a 10 GW AC project development platform of the latter (see First Solar Selling US Project Development Business).
"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 LRE's Chief Strategy Officer, Eran Mahrer. "We look forward to working closely with First Solar and other U.S.-based component manufacturers as we aggressively expand our solar portfolio."
Recently, First Solar secured a 4 GW DC long term module contract from Silicon Ranch Corporation and a 750 MW DC order from Origis Energy (see First Solar Bags 4.75 GW DC Module Orders).
US developers are entering long term module deals for their projects as the market fights an environment of uncertainty with the ongoing investigation into Auxin Solar's anti-circumvention complaint throwing the demand and supply scenario off the course. While sharing its Q1/2022 results, NextEra Energy cited the problem of module availability as the reason for the management to expect up to 2.8 GW of its 2022 solar and storage capacity to be shifted to 2023, as local suppliers are booked through 2024 (see NextEra: Up To 2.8 GW US Solar & Storage May Shift To 2023).