Under the terms of the agreement, First Solar will deliver 40 MW of advanced thin film modules to Reliance Power by the end of this year, and the remaining 60 MW in 2012.
The Jaisalmer facility will supply renewable electricity to Mumbai. The agreement between the two firms is First Solar’s largest module supply contract in India to date.
"We are delighted to collaborate with Reliance Power, one of India's leading independent power producers," said Jim Brown, president of First Solar's Utility Systems Business Group.
"With strong growth projections, India is expected to become one of the world's major solar markets, due to its abundant solar resource and significant energy demand. This agreement with Reliance Power continues First Solar's momentum in India, helping develop the country's long-term, sustainable solar market," Brown added.
The U.S. Export-Import Bank approved an $84.3 million direct loan on to Reliance Power's Dahanu Solar Power Pvt. unit to purchase First Solar panels for the first 40MW of the project.
Separately, First Solar announced that it has extended its material and workmanship warranty from five to ten years. The new warranty covers First Solar's advanced Series 3 solar modules as of 1 October 2011.For additional information:
