First Solar, a US-based manufacturer of solar panels, has received a 4 GWdc order from Lightsource BP, a British solar energy company, for its cutting-edge thin film solar modules. Around the US, the solar modules will be installed at Lightsource BP projects. First Solar will supply its Series 6 Plus and next-generation Series 7 modules, which will be delivered between 2026 and 2028. Formerly, Lightsource BP had a deal with the company to supply up to 4.3 GWdc worth of solar modules in 2021.
First Solar announced plans to expand its solar module production capacity in the US, including the construction of a third factory in Ohio in the first half of 2023. By 2025, the company also intends to establish its fourth production facility in Alabama. These two factories will produce the Series 7 modules that Lightsource BP ordered.
In January 2023, Lightsource bp closed on a $267 million tax equity investment from Wells Fargo & Company, a Fortune 500 financial services company with roughly $1.9 trillion in assets. Along with the sponsor equity investment made by Lightsource bp, Wells Fargo’s tax equity investment finalised the debt financing package that was first finalised in December 2021.