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US thin-film photovoltaics (PV) maker First Solar Inc (NASDAQ:FSLR) has signed a 167-MW captive power purchase agreement (PPA) to power its new factory in India.
The 15-year contract is with Asian renewables supplier Cleantech Solar, which will build 150 MW of solar and 16.8 MW of wind assets in Tamil Nadu. Expected to be fully commissioned by the third quarter of 2024, this solar and wind capacity will supply about 7.3 GWh of power to First Solar’s new 3.3-GW vertically integrated plant in Tamil Nadu, covering up to 70% of its anticipated electricity needs.
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In addition, Cleantech Solar will buy 150 MW of India-made Series 7 modules from First Solar for the solar project under the PPA. The modules are expected to be delivered in the first half of 2024, the solar company said.
According to Sujoy Ghosh, vice president and managing director, First Solar, India, the company’s new manufacturing facility in Tamil Nadu sets a high benchmark for responsible and sustainable vertically integrated solar manufacturing, not just in India, but globally. First Solar says its solar modules have the lowest carbon and water footprint of any PV module currently available on the market.
With this PPA, Cleantech Solar’s portfolio in Tamil Nadu, including operational and under-construction projects, now totals almost 500 MW.
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