US cadmium telluride (CdTe) thin-film module manufacturer First Solar has announced an agreement to supply utility-scale renewables developer Swift Current Energy with 500GW of thin film modules.
The agreement will see First Solar’s thin-film CdTe Series 7 modules delivered between 2027 and 2028. Prior to the latest agreement, Swift Current Energy ordered 2GW of thin film modules, to be delivered between 2025 and 2026, in October 2022; and 1.2GW of thin film modules, to be delivered between 2023 and 2024, in January 2022.
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“This latest agreement with First Solar supports our effort to build a resilient, competitive value chain, while supporting investments in domestic manufacturing, along with the jobs and economic benefits that come with it,” said Eric Lammers, co-founder and CEO of Swift Current Energy.
Swift Current Energy has commercialised more than 2.5GW of renewable energy projects, and has a project pipeline of more than 10GW of solar, wind and energy storage. The company also owns 1.4GW of renewables projects currently in operation or in advanced construction.
First Solar said the order was booked before the release of its third quarter financial results. In Q3, First Solar’s module production increased by 14% from the previous quarter, reaching a record of 3.2GW, and increased its production capacity for the seventh quarter in a row.
The company also secured a further 6.8GW of net bookings since the Q2 earnings call, bringing the total for the year to 27.8GW. First Solar also reached a module backlog of 81.8GW, which it expects to extend into 2030 as of the third quarter of 2023.