France's Akuo orders 500 MW of First Solar modules

• French renewable power producer and also designer Akuo has placed an order with First Solar Inc (NASDAQ: FSLR) for 500 MW direct current (DC) of thin-film photovoltaic (PV) modules for a project in the United States and also some other overseas markets.

The multi-year agreement calls for First Solar to deliver 200 MW DC for a utility-scale project in the United States during the first half of 2024. The rest of the PV panels are to be provided in 2025-2026 for projects in Europe or other regions where Akuo exists.

"The solar industry runs versus a background of volatility and unpredictability, and this agreement is part of a more comprehensive effort to reduce the lasting supply threats of our global portfolio to really supply our projects," stated Eric Scotto, CEO of Akuo.

First Solar has existing factories in the US, Vietnam as well as Malaysia as well as is presently developing its third manufacturing facility in the state of Ohio in addition to a brand-new 3.3-GW factory in India. Including the two continuous projects and also some optimisations, the company anticipates doubling its nameplate production capacity to 16 GW in 2024.