Arevon Energy has secured a more than 2-GWDC supply of advanced Series 7 thin-film solar modules from First Solar to support its growing renewable energy portfolio. Approximately 700 megawatts (MW)DC of the total volume secured includes purchase orders issued prior to the release of First Solar’s Q2 2022 earnings in July this year. These orders will add to Arevon’s existing 2 GW portfolio of operating assets with First Solar modules and will support projects under development in the Midwest and Southwest regions.
“We are pleased to further expand our relationship with First Solar and contribute to the expansion of the U.S. solar value chain,” said John Breckenridge, Arevon’s CEO. “Sourcing American solar technology from First Solar allows us certainty of supply and helps mitigate the risk of supply shortages and project delays. More broadly, it also allows us to support U.S. innovation in photovoltaics, and the expansion of domestic solar manufacturing capacity through our procurement strategy.”
These orders for modules will ensure that Arevon can execute projects planned to deploy in the next five years.
“We’re pleased that Arevon has chosen to double down on its commitment to First Solar’s responsibly produced technology,” said Georges Antoun, chief commercial officer, First Solar. “These multiyear orders reflects a broader trend in the industry where developers are de-risking their project portfolios with strategic, long-term procurement frameworks and sourcing American solar. We are proud to be in a position to enable the growth of leading American developers like Arevon, by providing them with the certainty and long-term visibility they need.”
First Solar is expanding its manufacturing capacity at home and abroad. In addition to a third factory under construction in Ohio, the company recently announced an investment of up to $1.2 billion in expanding its Ohio manufacturing footprint and a new manufacturing facility, its fourth American manufacturing facility, in the Southeast.
News item from Arevon