Nevada Gold Mines Partners with First Solar Technology to Decarbonize Energy Supply

0

Premier Solar, Inc.

Responsibly produced modules to power 17% of the energy needs of the world’s largest gold production complex

Nevada Gold Mines Partners with First Solar Technology to Decarbonize Energy Supply

First Solar, Inc. today announced that its responsibly produced solar photovoltaic module technology will <a class=power 17% of the annual energy needs of Nevada Gold Mines, the world’s largest gold production complex.” src=”https://s.yimg.com/ny/api/res/1.2/pi8ByQxvb30QJpQyUL.ZdA–/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTI4MA–/https://s.yimg.com/uu/api/res/1.2/D0Aai_nReh0MM8MUr1PqYA–~B/aD0yMDA7dz0zMDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/globenewswire.com/cace64b9e9386b1049da910503bbebd3″/>

First Solar, Inc. today announced that its responsibly produced solar photovoltaic module technology will power 17% of the annual energy needs of Nevada Gold Mines, the world’s largest gold production complex.

TEMPE, Ariz. and ELKO, Nevada, April 13, 2022 (GLOBE NEWSWIRE) — First Solar, Inc. (Nasdaq: FSLR) today announced that its responsibly produced solar photovoltaic (PV) module technology will power 17% of the annual energy needs of Nevada Gold Mines (NGM), the largest gold production complex in the world. NGM is a joint venture between Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) and Newmont Corporation (NYSE: NEM) which is operated by Barrick.

NGM, which produces about 3.5 million ounces of gold annually, is investing in the construction of a solar power plant as part of a broader effort to decarbonize its operations and minimize its environmental footprint. As part of the deal, which was booked ahead of First Solar’s fourth quarter and full year 2021 results release in February, 260 megawatts (MW)CC solar modules manufactured by First Solar in Ohio will be deployed to power the new 200 MWTHAT installation in the second quarter of 2023.

NGM places a strong emphasis on environmental management practices and is a committed steward of the State of Nevada’s unique lands, waters, flora and fauna. Barrick is committed to reducing its greenhouse gas emissions by 30% by 2030, with a target of net zero operations by 2050. NGM will support Barrick’s goals and has set an interim target of reduction of its greenhouse gas emissions by 20% by 2025, compared to its 2018 Baseline. cleaner burning natural gas.

“When we selected our solar module technology partner, we did so very carefully. We made the choice to contract with a supplier who shares our values, including a commitment to fair labor practices and an investment in American manufacturing and American jobs. By partnering with First Solar, we have also found an innovator capable of delivering high performance solar panels with the lowest carbon footprint and best environmental profile available today,” said Greg Walker, Executive Managing Director of NGM. “At NGM, we believe that our corporate social responsibility and the profitability of our business go hand in hand. While minimizing the environmental impacts of our operations, we bring long-term, sustainable social and economic benefits to Nevada.

Designed and developed at its research and development (R&D) centers in California and Ohio, First Solar’s responsibly produced advanced thin-film photovoltaic modules set industry benchmarks for quality, durability, reliability, design and environmental performance. First Solar also operates an advanced recycling program that recovers over 90% of CadTel for use in new modules.

“As an American solar company, we are proud to support Nevada Gold Mines with responsible solar technology designed and developed right here in the United States,” said Georges Antoun, Chief Commercial Officer of First Solar. “NGM is part of a growing wave of customers who do not want to compromise on quality or their principles and choose to partner with First Solar. They partnered with us because we can deliver a high performance module without the social, environmental and political risks that are, unfortunately, associated with too many solar manufacturers today.

First Solar is investing $680 million to expand US domestic solar PV manufacturing capacity by 3.3 GW per year, building its third US manufacturing facility in Lake Township, Ohio. The new facility is expected to be commissioned in the first half of 2023, and when fully operational, the company’s footprint in northwest Ohio will grow to a total annual capacity of 6 GW, which would make it the largest fully vertically integrated solar manufacturing complex outside of China. First Solar has invested more than $2 billion in its U.S. manufacturing footprint and, when its third plant is fully operational, will directly employ more than 2,500 people in Ohio, while supporting approximately 7,000 indirect jobs through its US supply chain.

In addition to its manufacturing facilities in Ohio, First Solar also operates plants in Vietnam and Malaysia and is building a new 3.3 GW plant in India which is expected to be commissioned in the second half of 2023. With the First Solar’s expansion into the United States and India and the optimization of its existing fleet, the company expects its nameplate manufacturing capacity to double to 16 GW by 2024.

About Nevada Gold Mines
Nevada Gold Mines is operated by Barrick Gold Corporation and is a joint venture between Barrick (61.5%) and Newmont (38.5%) who combined their significant assets across Nevada in 2019 to create the world’s largest gold production complex. gold in the world.

About First Solar, Inc.
First Solar is a leading US solar technology company and global supplier of responsibly produced, eco-efficient solar modules to advance the fight against climate change. Developed in R&D labs in California and Ohio, the company’s advanced thin-film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, low-carbon alternative to solar panels. Conventional crystalline silicon PVs. From sourcing and manufacturing raw materials to recycling end-of-life modules, First Solar’s technology approach embodies sustainability and responsibility to people and the planet. For more information, visit www.firstsolar.com.

For early solar investors
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding (1) a 260 MW orderCC solar modules for Nevada Gold Mines; (2) First Solar’s plans to establish new plants in the United States and India and the expected capacities of such plants; and (3) when these plants are expected to be commissioned and First Solar’s resulting manufacturing capacity in Northwest Ohio and globally. These forward-looking statements are often characterized by the use of words such as “estimate”, “expect”, “anticipate”, “project”, “plan”, “intend”, “seek”, ” believe”, “plan”, “plan”, “probable”, “may”, “should”, “goal”, “target”, “could”, “should”, “could”, “predict”, “continue” and the negative or the plural of these words and other comparable terms. Forward-looking statements are only predictions based on our current expectations and projections of future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by such statements. These factors include, but are not limited to, matters discussed under the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recent Annual Report on Form 10-K and of our quarterly report subsequently filed. Reports on Form 10-Q, supplemented by our other filings with the Securities and Exchange Commission.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7afcd16b-0fc3-4936-94f4-8b3e00cd54fd

Share.

About Author

Comments are closed.