First Solar to build plants in Indonesia
First Solar will help put up 100 megawatts of new solar in Indonesia.
First Solar Inc. will collaborate on bringing 100 megawatts of solar power projects to Indonesia.
Tempe, Ariz.-based First Solar (Nasdaq: FSLR) will partner with PT Pembangkitan Jawa Bell, known as PJB Services, on the projects. Neither financial terms nor the number of projects were disclosed.
The move represents a continuing trend of First Solar looking outside the U.S. to a more global market. The company is benefiting from a $57.3 million loan from the Export-Import Bank fueling a power plant in India. It also has opened a Thailand subsidiary and bolstered its presence in China.
“Indonesia has an increasingly urgent need for reliable, cost‐effective energy resources. The agreement with PJB Services facilitates an ideal collaboration to provide Indonesia with the needed solution,” said Won Park, First Solar’s senior manager of business development and sales in Southeast Asia.
The agreement cuts across development and engineering of the power plants as well as ongoing operations and maintenance. The power plants will use First Solar-manufactured modules.
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