U.S. solar module maker partners with Cleantech Solar to drive sustainability

  • First Solar secures 15-year power purchase agreement with Cleantech Solar
  • Agreement will power First Solar’s 3.3-gigawatt manufacturing facility in Tamil Nadu
  • Cleantech Solar to construct 150 MW of photovoltaic and 16.8 MW of wind assets
  • Project expected to displace almost 7 million tons of CO2 emissions
  • First Solar’s module plant in Tamil Nadu has the lowest environmental footprint in the industry

U.S. solar module maker First Solar has announced a 15-year power purchase agreement with Indian renewables company Cleantech Solar. The agreement will provide power to First Solar’s 3.3-gigawatt manufacturing facility in Tamil Nadu. Cleantech Solar will construct 150 MW of photovoltaic and 16.8 MW of wind assets to supply 70% of the facility’s electricity needs. The project is expected to reduce carbon dioxide emissions by almost 7 million tons. First Solar’s module plant in Tamil Nadu already has the lowest environmental footprint in the industry.

Public Companies: First Solar (N/A)
Private Companies: Cleantech Solar
Key People: Sujoy Ghosh (Vice President and Managing Director of First Solar India)

Factuality Level: 8
Justification: The article provides specific details about the power purchase agreement between First Solar and Cleantech Solar, including the construction of photovoltaic and wind assets to supply electricity to the manufacturing facility. It also mentions the expected carbon dioxide emissions reduction and the growth of Cleantech Solar’s renewables portfolio. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It is focused on reporting the facts of the agreement and the statements made by the involved parties.

Noise Level: 8
Justification: The article provides information about a power purchase agreement between First Solar and Cleantech Solar in India. It mentions the capacity of the manufacturing facility, the renewable assets to be constructed, and the expected carbon dioxide emissions reduction. The article also highlights the environmental sustainability of the plant. However, it lacks in-depth analysis, scientific rigor, and actionable insights. It does not explore the consequences of the agreement or hold powerful people accountable. The article stays on topic and supports its claims with information from the companies involved.

Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial impact of a power purchase agreement between First Solar and Cleantech Solar. It provides information about the construction of renewable energy assets and the anticipated electricity needs of First Solar’s manufacturing facility in Tamil Nadu.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme event. It focuses on the power purchase agreement and the construction of renewable energy assets.

Reported publicly: www.marketwatch.com