Dimbach, Germany (1.4 MW); Blitzstrom/ Beck Energy. First Solar, Inc.

Transcription

1 Dimbach, Germany (1.4 MW); Blitzstrom/ Beck Energy First Solar, Inc. April 24, 2009 Rich Hossfeld

2 Forward Looking Statements This presentation contains forward looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of The forward looking statements in this presentation do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships, and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward looking information contained in this presentation or with respect to the announcements described herein. First Solar Confidential & Proprietary First Solar, Inc. 2

3 First Solar Overview First Solar, Inc. 3

4 First Solar Introduction Founded in 1999, a market leader in utility scale commercial and industrial PV systems World s largest solar module manufacturer >1 Giga Watt (GW) manufactured; reaching >1GW of annual manufacturing capacity by mid 2009 NASDAQ (FSLR) Market Capitalization of ~$12 billion $ World s lowest cost solar module manufacturer $0.98/W (as of Q4 08) Targeting grid parity by First Solar Confidential & Proprietary First Solar, Inc. 4

5 The First Solar Solution Module Manufacturing Glass In 2.5 Hours Module Out Breakthrough thin film process technology 99% reduction in high cost semiconductor material Fully integrated, continuous process vs. batch processing No shortages of semiconductor material Cost reduction trajectory driven by productivity and technology improvements Large (2'x4') substrate vs. 6"wafers System Solutions First Solar specializes in utility scale PV systems Engineering, procurement and construction capabilities provide turnkey solution Monitoring & Maintenance (M&M) Program Fixed M&M pricing enables predictable annual expenses First Solar monitors and maintains the PV systems it designs over the life of the system First Solar Confidential & Proprietary First Solar, Inc. 5

6 Environmental Responsibility Collection & Recycling Program First Solar provides free module collection and recycling to anyone in possession of a First Solar module. First Solar pre funds 100% of estimated collection and recycling costs at the time of module sale in a restricted investment account to be used solely for collection and recycling. First Solar's estimated costs of collection and recycling were independently audited by Grant Thornton and ERA Technologies in May First Solar Confidential & Proprietary First Solar, Inc. 6

7 First Solar's Global Presence Frankfurt (Oder), Germany Manufacturing (191 MW) 2008 Perrysburg, Ohio Manufacturing (144 MW) 2006 (191 MW) 2010 Tempe, Arizona Corporate Headquarters Bridgewater, New Jersey System Solutions Kulim, Malaysia Manufacturing (763 MW) 2009 First Solar Confidential & Proprietary First Solar, Inc. 7

8 Market Strategy First Solar, Inc. 8

9 Module Supply Channel Strategy Over 4GW/$6.3 billion currently contracted with Leading European Utilities, Project Developers and Integrators First Solar Confidential & Proprietary First Solar, Inc. 9

10 Brandis PV Power Plant Module Supply System Size: 40 MW Site: Brandis, Germany Irradiance: 1020 kwh/m2 Date Commissioned: 2009 Project Developer: Juwi Operator: Solar Fund System Owner / Investor: Solar Fund Module Type: Inverter: FS 265, FS 267, FS 270 SMA SC1000 MV First Solar Confidential & Proprietary First Solar, Inc. 10

11 Project Profiles Module Supply Site: Rote Jahne, Germany Site: Ramstein, Germany Site: Bullas, Spain System Size: 6MW System Size: 2 MW System Size: 5MW Project Developer: Juwi Holding AG Project Developer: COLEXON Energy AG Project Developer: Gehrlicher Solar AG First Solar Confidential & Proprietary First Solar, Inc. 11

12 U.S. Utility Market Timeline November 2007: Acquired Turner Renewable Energy, a leading commercial solar project developer December 2008: Completed 2 MW pilot rooftop installation for SCE in California; awarded two additional pilot projects as part of SCE s 250 MW rooftop program December 2008: Completed 10 MW facility in Nevada for Sempra Generation; output sold under longterm PPA to PG&E March 2009: Announced 30 MW facility near Cimarron, NM; power sold under PPA to Tri State Generation April 2009: Announced 48 MW addition to existing El Dorado facility with Sempra Generation Construction anticipated to begin on 550 MW Topaz project & Beyond December 2007: Signed PPA with SCE for the sale of electricity generated by 21 MW Blythe facility October 2008: Announced strategic alliance with Edison Mission to develop large scale PV projects in the southwestern U.S. April 2009: Completed acquisition of OptiSolar s project pipeline, including 550 MW Topaz project under PPA with PG&E Construction anticipated to begin on projects for IPP/utility affiliate partners First Solar Strategy Develop EPC capabilities necessary for entry into the U.S. utility market Forge relationships that will drive future business and construct pilot projects that prove out First Solar s capabilities Employ accelerated deployment schedule that allows FS to reduce costs though economies of scale and learning cycles First Solar Confidential & Proprietary First Solar, Inc. 12

13 US Utility Business Model First Solar Hardware/Installed Systems Regulated Utilities IPP Utility Affiliates IPP - Other Own and Operate PPA Regulated Entities First Solar Confidential & Proprietary First Solar, Inc. 13

14 Regulated Utilities Fontana Rooftop System, near Los Angeles, CA Southern California Edison (SCE) plans to install and own 250 MW of solar capacity on large commercial rooftops throughout southern CA over the next five years First Solar completed the program s initial 2 MW installation in December 2008 and was awarded the program s second (1 MW under construction) and third (1.5 MW) projects Site: Fontana, CA System Size: 2 MW (AC) Completed: December 2008 System Purchaser: Southern California Edison First Solar Confidential & Proprietary First Solar, Inc. 14

15 IPP/Utility Affiliates El Dorado Energy, near Las Vegas, NV Built next to existing natural gas plant Built in less than 5 months 137 days 48MW expansion to begin in 2009 Site: System Size: El Dorado, NV 10 MW (AC) Completed: December 2008 System Purchaser: Sempra Generation First Solar Confidential & Proprietary First Solar, Inc. 15

16 Regulated Utility Partners 760 MW of executed PPAs 550 MW Topaz project in Southern California 210 MW OPA contracts in Canada 1,300 MW short listed with utilities 136,000 acres of total land secured and identified First Solar will engineer, procure and construct a 30 MW facility in northeastern New Mexico; power will be sold under a 25 yr PPA to Tri State Generation Largest PV contract signed by an electric co op in the U.S. First utility scale PV project in New Mexico First Solar will engineer, procure and construct a 21 MW facility in Blythe, CA; power will be sold under a 20 yr PPA to SCE First Solar Confidential & Proprietary First Solar, Inc. 16

17 First Solar Locations World Headquarters Tempe, Arizona, USA Manufacturing Perrysburg, Ohio, USA Frankfurt (Oder), Germany Kulim, Malaysia EuropeAmsterdam, Netherlands Business Development Berlin, Germany EU Government & Public Affairs North AmericaBridgewater, New Jersey System Solutions New York, New York Corporate Development Brussels, Belgium EU Government & Public Affairs Mainz, Germany Sales & Customer Support Madrid, Spain Sales & Customer Support Hayward, California Project Development First Solar Confidential & Proprietary First Solar, Inc. 17