Renewables asset supervisor Arevon Power has bagged greater than 2GW of First Photo voltaic’s Sequence 7 skinny movie PV modules because it continues its provide association with the US producer.
Arevon mentioned the modules could be used to assist its “rising renewable power portfolio” within the Midwest and Southwest US, including to Arevon’s current 2GW portfolio of working belongings with First Photo voltaic modules.
“These orders solidify Arevon’s aggressive benefit whereas making certain we are able to ship revolutionary options to our prospects,” mentioned the corporate’s COO, Justin Johnson.
First Photo voltaic mentioned its Sequence 7 modules mix the corporate’s skinny movie cadmium telluride (CadTel) know-how with a bigger kind issue and a brand new again rail mounting system to ship improved effectivity, enhanced set up velocity and superior lifetime power efficiency for US utility-scale PV initiatives.
Arevon’s CEO, John Breckenridge, mentioned the deal would “contribute to the enlargement of the US photo voltaic worth chain” by way of the sourcing of US-made modules that may “mitigate the chance of provide shortages and venture delays”.
Certainly, many US builders had been burnt over the previous couple of years when the US imposed tariffs and commerce restrictions on imported modules. Though these issues have abated considerably over the previous few months – President Joe Biden waived tariffs on items from Southeast Asia – it has led to many builders seeking to supply modules and photo voltaic merchandise from US-based firms.
In the meantime, the US$369 billion Inflation Discount Act (IRA), handed into legislation by Biden in late July, guarantees to spice up US PV manufacturing capability by way of varied tax incentives. Breckenridge mentioned the availability cope with Frist Photo voltaic enabled it to “assist US innovation in photovoltaics, and the enlargement of home photo voltaic manufacturing capability by way of our procurement technique.”
“We’re happy that Arevon has chosen to double down on its dedication to First Photo voltaic’s responsibly produced know-how,” mentioned Georges Antoun, chief industrial officer at First Photo voltaic. “These multiyear orders displays a broader pattern within the business the place builders are de-risking their venture portfolios with strategic, long-term procurement frameworks and sourcing American photo voltaic.”
Arevon’s buy is the most recent in quite a few latest provide offers for First Photo voltaic as curiosity in its US made merchandise ramps up. Final week, impartial energy producer (IPP) Silicon Ranch secured 700MW of First Photo voltaic’s thin-film modules, whereas in August renewables developer Intersect Energy landed a 2.4GW provide contract. Per week earlier than that, French developer Akuo Photo voltaic additionally introduced a 500MW provide settlement with First Photo voltaic for its thin-film modules.
Following the IRA, First Photo voltaic can also be planning to speculate as much as US$1.2 billion to increase its manufacturing operations within the US, together with organising a vertically built-in manufacturing facility within the nation’s Southeast with an annual capability of three.5GW.