First Solar Partners with Zhenfa on Thin-film PV Demonstration Project in China

“This agreement marks an important step forward in First Solar’s efforts to support China’s renewable energy goals with its advanced solar technologies and global solar industry expertise,” said Bruce Yung, Managing Director and Vice President of Business Development for First Solar in China. “We are excited to work with a strong partner like Zhenfa to demonstrate our advanced thin-film technology. I expect this will be the first of many opportunities for collaboration between First Solar and leading Chinese companies, both within China and globally.”

“We are very happy about our partnership with First Solar, which is providing its world-class PV technology to one of our key projects. By sharing experience, expertise and technologies we are creating a very strong combination. We look forward to exploring additional opportunities to work together to generate clean, renewable energy for China and the world,” said Zha Zhengfa, Chairman of Zhenfa.

Yung added: “An important element of First Solar’s business strategy is to work with Chinese partners to create shared value both in China and abroad. The agreement between First Solar and Zhenfa will serve as a positive example of win-win collaboration between leading renewable energy companies from China and the United States.”

Founded in 2004, Zhenfa New Energy Science & Technology Co., Ltd. (Zhenfa New Energy) is one of the largest providers of integrated PV power generation systems in China. The company had an installed capacity of 410 MW by the end of 2011, and plans to increase its installed capacity to 1100 MW by March 2013. Zhenfa brings new power to every PV power station in an innovative way – in eastern China, the company constructs fishing-solar complementing integrated power stations on coastal mud flats and fish ponds, and combines solar facilities with local agriculture; in western China, the company helps to resolve desertification and increase incomes of local residents by developing PV power stations to gain both economic and social benefits. The self-adaptive single-axis solar tracking system, which is independently developed by Zhenfa, can increase energy efficiency of the power generation system and help to achieve solar power grid parity.

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