Azure Power Global Ltd., an independent sustainable energy solutions provider and renewable power producer, has entered into an agreement for 600 MW DC of high-performance, advanced thin-film photovoltaic (PV) solar modules from First Solar Inc.
The agreement is the first for production from First Solar’s new manufacturing facility in Tamil Nadu, India, which is expected to be commissioned in the second half of 2023.
Under the agreement, Azure Power is expected to take delivery of First Solar’s Series 7 PV solar modules from the fourth quarter of 2023 to 2025.
“We are pleased to partner with First Solar with their latest Series 7,” says Rupesh Agarwal, acting CEO of Azure Power. “Having a long-term agreement with global solar modules technology leaders like First Solar is key to de-risking our supply side with the latest technology available in the market.”
First Solar’s vertically integrated manufacturing facility, located near Chennai, is projected to have an annual nameplate capacity of 3.3 GW DC and is expected to produce a version of the company’s Series 7 modules that is optimized for the Indian market.
“Our relationship with Azure Power goes back over a decade and we are pleased that it is the launch customer for a product that has not only been designed for India, but made in India, for India,” states Georges Antoun, chief commercial officer at First Solar. “This deal demonstrates how experienced developers and independent power producers in India are increasingly taking a strategic view on procurement and securing long-term commitments that help tackle the risks of short-term pricing and supply volatility. When working with First Solar, they benefit from certainty of pricing and supply, and a technology that is advantaged in India’s operating environments.”