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07/23/2008 07:11 AM

First Solar Inaugurates First Malaysian Manufacturing Plant

SustainableBusiness.com News

First Solar, Inc. (Nasdaq:FSLR) announced that the first of its four solar module manufacturing plants being constructed at the Kulim Hi Tech Park in Kedah, Malaysia was formally inaugurated today.

 "Dedicating this plant today represents a major milestone for First Solar. Our expansion into Asia enables us to achieve cost reductions through economies of scale in a high quality manufacturing environment," said Bruce Sohn, President of First Solar.

First Solar's investment of $680 million will bring more than 2,000 jobs in management, engineering, accounting, human resources and factory operations when all four plants are fully operational. The Malaysian Government has granted First Solar a multi-year income tax holiday, and the Malaysian Industrial Development Authority (MIDA) is supporting cross training for the workforce at First Solar's facilities in the United States and Germany.

When complete during the second half of 2009, the four plants that comprise First Solar's Malaysia facilities will have a combined annual capacity to produce 720 megawatts of solar modules and provide a significant contribution to First Solar's annual capacity goal of one gigawatt.

About First Solar

irst Solar, Inc. manufactures solar modules with an advanced thin film semiconductor process and provides comprehensive system solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints. First Solar has set the benchmark for environmentally responsible product life cycle management by introducing the industry's first comprehensive collection and recycling program for solar modules. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and enhance the environment. First Solar modules have the lowest life cycle environmental impact of current photovoltaic technologies. In addition, First Solar power plants generate electricity with no air emissions, no waste stream and no water use.

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