French renewable energy developer Akuo Energy has contracted American thin film solar module maker First Solar, Inc to supply it 500 MW DC modules for its projects in the US, Europe and other regions.
As per the deal announced, First Solar will supply 200 MW DC modules for Akuo's utility scale project planned in the US, for which the delivery is to be completed by H1/2024.
The other 300 MW DC capacity will be shipped to Akuo between 2025 and 2026, for which the latter has not identified any specific projects. However, it added that modules will be deployed for projects in Europe or other regions. Akuo held 1.4 GW of total renewable energy assets in operation or under construction at the end of 2021, along with more than 7 GW project development pipeline.
"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," explained Akuo CEO Eric Scotto. "First Solar's ability to provide supply chain traceability and its commitment to responsible manufacturing was crucial to us."
As the US government tightens its grip over module supply that has any linkages to China's Xinjiang region, First Solar is one to end up benefitting with its silicon free and home-grown PV technology. Recently, it has clinched several long term supply orders from various companies, including Solarvest of Malaysia (see North America PV News Snippets).
"Developers in Europe are recognizing the risks associated with having a geographically concentrated solar supply chain and are electing to take a long-term approach to supply diversity and security by working with us. Our differentiation rests as much on our ability to help our customers navigate volatility and uncertainty as our technology," said First Solar Chief Commercial Officer Georges Antoun.