US thin-film photo voltaic producer First Photo voltaic has signed a 500MW photo voltaic module provide settlement with French developer Akuo Photo voltaic.
Underneath the phrases of the deal, First Photo voltaic will provide Akuo with an preliminary tranche of 200MWdc of modules within the first half of 2024, adopted by additional deliveries slated for 2025 and 2026.
First Photo voltaic mentioned the order was signed utilizing the corporate’s agile contracting method which is able to permit Akuo to learn from advances to First Photo voltaic’s module expertise over the timeline of the deal.
Eric Scotto, CEO at Akuo, mentioned the deal fashioned a part of broader efforts from the enterprise to cut back “long-term provide dangers” of its 7GW growth pipeline of worldwide photo voltaic initiatives.
Its cope with Akuo is the newest in a line of module provide offers First Photo voltaic has penned in current months totalling a number of gigawatts, with builders together with Nationwide Grid Renewables, Leeward Renewable Power, Origis Power and Silicon Ranch all turning to the US-based module producer as issues grew over the AD/CVD investigation and traceability calls for from US border officers.
First Photo voltaic is, nevertheless, more and more bought out over the approaching years and expects to ship upwards of 9.4GW of modules this yr, prompting a capability enlargement plan that spans the US, India and doubtlessly Europe.