PJB Services & First Solar Sign Agreement on Development of Solar Power Plants in Indonesia
Relationship to Focus on Delivery of Photovoltaic Projects in Indonesia
JAKARTA, Indonesia--(BUSINESS WIRE)-- First Solar, Inc. (NAS: FSLR) and PT. Pembangkitan Jawa Bali Services (PJB Services) of Indonesia today signed a memorandum of understanding (MOU) to collaborate on the delivery of 100 megawatts (MW) of utility-scale solar power plants in Indonesia in order to address the growing energy demand in the country.
First Solar thin-film solar photovoltaic modules in a ground-mounted solar power plant. (Photo: Business Wire)
"Indonesia has an increasingly urgent need for reliable, cost-effective energy resources. The agreement with PJB Services facilitates an ideal collaboration to provide Indonesia with the needed solution," said Won Park, First Solar's Senior Manager of Business Development and Sales in Southeast Asia. "This MOU underscores First Solar's belief that the Indonesian market has great potential as a sustainable market where solar power can be a meaningful part of the energy mix."
The MOU is the first for First Solar in Indonesia and one of several related to the company's strategy of forging strategic alliances in fast-growing, sustainable energy markets worldwide. The MOU also represents the first foray into the development of utility-scale solar photovoltaic power plants for PJB Services, a leading provider of services for the operation and maintenance of conventional power plants in Indonesia, whose parent company is PJB, a subsidiary of Perusahaan Listrik Negara (PLN).
The MOU represents an initial step in the collaboration between the two companies toward the development, engineering, procurement, construction, operation and maintenance of an approximately 100 MW pipeline for solar PV power plants, including PV hybrid solutions, using First Solar's advanced thin-film PV modules and related system services and components.
"We are excited by the opportunity to collaborate with a world leader in solar energy for the development of utility-scale PV power plants in Indonesia," said Bernadus Sudarmanta, President of PJB Services. "Solar PV electricity can help Indonesia meet its fast-growing power needs while reducing its dependence on fossil fuels."
About First Solar, Inc.
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced thin-film modules. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module collection and recycling, First Solar's renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
About PJB Services
PT PJB Services is a subsidiary of PT. Pembangkitan Jawa Bali, a subsidiary of PLN, which was established to answer the need for additional line-up businesses in the areas of power plant operations and maintenance. PT PJB Services was established on March 31, 2001 with 95% shareholding owned by PT PJB and 5% owned by the Foundation for Education and Welfare of PT PJB. PT PJB Services initially focused only on the field of plant maintenance only. PT PJB Services has developed the ability to be a company engaged in the operation and maintenance of power plants. The company is currently represented in Indonesia, Singapore, Malaysia, Kuwait, China and Saudi Arabia. http://www.pjbservices.com/
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KEYWORDS: United States Asia Pacific North America Arizona Indonesia
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