News

12.Oct

| Australia's first large-scale solar farm switched on

Solar power received a jolt of energy on 10 Octboer, 2012, as Australia’s first large-scale photovoltaic solar project was officially switched on.

Verve Energy, GE (NYSE: GE) unit GE Energy Financial Services and First Solar, Inc. (Nasdaq: FSLR) officially opened the 10-megawatt Greenough River Solar Farm near Geraldton, Western Australia. Joined by WA Energy Minister Peter Collier, landholders, community members and contractors, the successful kick-off follows more than one year of planning, design, construction and testing.

“As the largest photovoltaic solar plant in operation in Australia, the Greenough River Solar Farm demonstrates that renewable technologies can contribute to meeting Australia’s future energy needs on a sustainable, cost-competitive basis. This is a positive first step in validating the bright future that large-scale solar represents in Australia,” said Jason Waters, CEO, Verve Energy.

“With this landmark project now complete, partners Verve Energy and GE Energy Financial Services are now evaluating the possibility of expanding the plant to up to 40-megawatts to satisfy growing demand for renewable energy,” said Waters.

The 10-megawatt project is expected to generate enough solar energy to power 3,000 homes and displace 20,000 tonnes of greenhouse gases each year. The plant's output will be purchased by the WA Water Corporation to help offset the energy requirements of its Southern Seawater Desalination Plant.

This project marks GE Energy Financial Services’ first renewable energy investment in Australia, adding to the company’s global portfolio of more than US$8 billion committed worldwide for projects generating power from wind, solar, hydro, biomass, geothermal and other renewable sources.

“GE is one of the world’s largest renewable energy investors and the Greenough River Solar Farm is just one example of the significant projects we can help turn into reality,” said Matt O’Connor, Managing Director at GE Energy Financial Services. “We see incredible investment opportunities in Australia and look forward to expanding on this successful project and applying our expertise to help the country’s renewable energy market grow.”

In addition to supplying over 150,000 of its advanced thin film PV modules and engineering, procurement and construction services for the plant, First Solar will provide operations and maintenance services for the next 15 years.

“First Solar is helping make large-scale solar power a reality in Australia,” said Mark Widmar, First Solar Chief Financial Officer. “This landmark project provides a strong foundation for the long-term adoption of large-scale solar projects in the Australian power market. We are delighted to have partnered with local suppliers and contractors to deliver this project and to lead the development of a large-scale solar industry in Australia.”

Western Australian state-owned power utility, Verve Energy, and GE Energy Financial Services each own 50 percent of the Greenough River Solar Farm, with the WA Government having provided A$20 million in funding, including A$10 million from the WA Royalties for Regions program. No debt was raised to fund the project.

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 http://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 Verve Energy

Verve Energy is the leading generator or electricity in Western Australia. Verve Energy owns and operates an extensive and diverse portfolio of power stations and renewable energy systems with a total capacity of 2967 MW. For more information, please visit www.verveenergy.com.au

About GE Energy Financial Services

GE Energy Financial Services—GE’s energy investing business—works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money—expertise—for essential, long-lived and capital-intensive power, oil and gas infrastructure—GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds an approximately $20 billion global energy portfolio. More information: www.geenergyfinancialservices.com

About GE

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com

28.Jun

| High efficiency gas turbines fired up

Energy Minister Peter Collier (front) and other guests at the HEGT site.

Energy Minister Peter Collier has officially opened Verve Energy’s $300 million high efficiency gas turbines at Kwinana Power Station.

The first of their type in Australia, these two HEGTs represent the latest in gas turbine technology, Minister Collier said.

They add 200MW of flexible efficient gas fired generation to the WA power system and Verve Energy’s already diverse portfolio.

Verve Energy CEO Jason Waters said: “These units, with their 43% efficiency and an unmatched ability to respond quickly to system load variations, will make a significant difference to Verve Energy’s operations, especially when managing the intermittent output from wind farms which is a big part of Verve Energy’s role in the market.

“Verve Energy’s operations will be more efficient, more reliable and with less carbon emissions.

”Importantly, also, this three year project was completed without a lost time injury,” he said.

29.May

| Albany benefits from Grasmere Wind Farm opening

Albany Wind Farm with the six turbine Grasmere extension.

Albany Wind Farm, and its Grasmere extension, are renewable energy showcases for Verve Energy, CEO Jason Waters said today.

Grasmere Wind Farm, the $40 million six turbine extension to Albany Wind Farm, was officially opened by Energy Minister Peter Collier.

Mr Waters said that Verve Energy completed the Grasmere Wind Farm on budget, on-time and without a safety incident.

“This was an excellent result. Much of the credit belongs with Verve Energy’s project team and the numerous contractors involved in this project," Mr Waters said.

“To share in our success, Verve Energy has proposed two initiatives for the local community.

“Firstly, Verve Energy will, with the City of Albany, establish the Verve Energy Albany Community Fund. Verve Energy will contribute $30,000 to the Fund which a local community advisory committee will distribute in grants of up to $2500 to local organisations for the benefit of the local community. Details will be made available shortly.

“Secondly, Verve Energy is offering one science scholarship for the next three years to each of three local secondary schools, Albany Senior High School, North Albany Senior High School and Great Southern Grammar.”

Mr Waters said that leading up to today's Grasmere Wind Farm official opening Verve Energy sponsored an art and photographic competition.

“Everyone who participated in this competition is to be congratulated. The response and quality of entries surpassed our expectations,” he said.

A selection of the entries will be displayed in the Albany Entertainment Centre until Sunday.

City of Albany Mayor Dennis Wellington welcomed Verve Energy’s contribution to sustainable power generation in the Albany community, and Verve Energy's initiative to establish a community fund to assist local projects, planned for 2013-14.

“As of July this year, the Albany community will have the chance to access funds from an innovative organisation whose commitment to the community in Albany is admirable," Mayor Wellilngton said.

“The City of Albany is pleased to administer the fund for Verve Energy and looks forward to developing a lasting relationship with Australia’s leading energy producer.”

Contact Reference: Peter Winner 9424 1977

17.Apr

| Verve Energy CEO appointed

Energy Minister Peter Collier and Verve Energy Chairman David Eiszele today announced the appointment of Jason Waters as CEO of Verve Energy, WA’s leading electricity generator.

Mr Waters, currently Verve Energy’s General Manager of Trading & Fuel, succeeds Ms Shirley In’t Veld who leaves Verve Energy after five years as Managing Director, on 30 April.

Minister Collier said State Cabinet had endorsed the Verve Energy Board decision to appoint Mr Waters.

“Mr Waters has extensive experience in the electricity industry and is an excellent choice,” the Minister said.

Mr Eiszele said the Verve Energy Board was comfortable making an internal appointment to the position because of the quality of the candidates available from within the organisation..

“Jason is very well credentialed to continue the revitalisation of Verve Energy after the organisations difficult early years following the separation of the old Western Power,” he said.

“He will focus on ensuring Verve Energy has the right and reliable plant, secure fuel supplies and the right people to manage the challenges ahead.”

Mr Waters has been appointed for a two-year term.

Mr Eiszele complimented Ms In’t Veld on her achievements during her term as Managing Director, when Verve Energy overcame the initial challenges of disaggregation to consolidate its position as the leading supplier of reliable electricity in Western Australia.

CONTACT REFERENCE: PETER WINNER 9424 1977

12.Apr

| Australia’s largest solar PV project reaches major construction milestone

The tables are ready for the solar panels at the Greenough River Solar Farm.

WA Minister for Energy helps mark the commencement of panel installation

Geraldton, Western Australia, April 12, 2012 — Australia’s largest solar photovoltaic (PV) power project reached a major construction milestone today as contractor and technology provider, First Solar, Inc. (Nasdaq: FSLR), joined owners Verve Energy and GE (NYSE: GE) unit GE Energy Financial Services to mark the commencement of panel installation at the Greenough River Solar Farm. WA Energy Minister, Peter Collier, landholders, members of the Geraldton community and local contractors were present to help celebrate this achievement.

“The demonstration of this proven technology in WA on a commercial scale should encourage the development of larger projects and reduce renewable energy costs in the medium to long term,” the Minister said.

Construction of the 10-megawatt solar farm 50km south of Geraldton began just four months ago. With above-ground electrical work completed and structural supports now installed, the next phase of construction will see local workers install approximately 150,000 First Solar PV modules. Scheduled for completion in mid-2012, the project is expected to create almost 100 jobs.

“The successful delivery of the Greenough River Solar Farm will help kick-off a long-term, sustainable market for utility-scale solar in Australia. First Solar has a strong record of successful project delivery, enhanced by working with local communities to ensure projects make a meaningful and lasting contribution,” said Jack Curtis, Vice President – Business Development & Sales, First Solar.

“When in operation, First Solar’s panels produce electricity with no water use, no waste production and no CO2 emissions,” Mr. Curtis added.

“GE Energy Financial Services sees Australia as a key growth market that will continue to need capital to fuel its expanding renewable energy industry. We hope this is the first of many such milestones in the country,” said Jason Willoughby, GE Energy Financial Services’ Australia business leader. “With our strong partners, Verve Energy and First Solar, we are pleased to help make this landmark solar project a reality.”

“The Greenough River Solar Farm is providing valuable experience for Verve Energy in the development of solar energy in WA,” said Tony Narvaez, General Manager, Strategy & Business Development, Verve Energy. “This experience will be very useful when Verve Energy pursues its aim to develop other solar farm projects in the near future.”

Western Australian state-owned power utility Verve Energy and GE Energy Financial Services each own 50 percent of the Greenough River Solar Farm, with the WA Government having provided A$20 million in funding, including A$10 million from the WA Royalties for Regions program. No debt has been raised to fund the project. First Solar is supplying its advanced thin film PV modules and engineering, procurement and construction services, in addition to operations and maintenance support once the solar farm is operational.

The WA Water Corporation, which is building the Southern Seawater Desalination Plant near Binningup, has committed to purchasing 100 percent of the solar farm’s output.

See Greenough River Solar Farm website.

Media release download

10.Mar

| MANAGING DIRECTOR TO LEAVE 30 APRIL 2012

Verve Energy Chairman David Eiszele today said that Shirley In’t Veld, Managing Director for the past five years, will leave the company when her contract expires on 30 April 2012.

The Board respects Ms In’t Veld’s decision not to extend her contract. The Board will shortly commence the process to select a new Managing Director, and an announcement is expected before the end of April. Mr Eiszele complimented Ms In’t Veld on the quality of her leadership which had helped turn the company around.

"Verve Energy in 2012 is a very different and better performing business to that which Shirley joined five years ago. Under Shirley’s leadership Verve Energy has emerged from the gloom of 2007 to the bright and profitable situation we find ourselves in today. We are very well placed to continue our progress while managing the challenges of the future, thanks to Shirley’s commitment, resilience and strength of character," Mr Eiszele said.

Ms In’t Veld said that the last five years had been both rewarding and challenging. “I have enjoyed my time with Verve Energy and continue to be impressed with the quality of the people in the business. I have done what I wanted to do, and it is time for me to look at other opportunities. I leave confident that the business will continue to prosper and play its part in the competitive market and the economic development of WA.”

CONTACT REFERENCE: PETER WINNER 9424 1977

30.Nov

| Gorgon gas supply agreement

Verve Energy's Managing Director Shirley In't Veld and Chairman David Eiszele

Verve Energy has reached a landmark gas supply agreement with the Gorgon joint venture.

Managing Director Shirley In’t Veld said the commercial agreement gave Verve Energy diversity of its gas sources and would partially replace the gas supply arrangement with North West Shelf which was forecast to run out in 2015/16.

Verve Energy and Synergy have signed 20-year agreements for a combined 125 terajoules a day, starting in 2015.

Ms In’t Veld said: “Facilitated by the Domestic Gas Reservation Policy, this gas supply agreement will cover about 50 percent of Verve Energy’s forecast daily gas requirements. Discussions are continuing with other potential suppliers.

“Verve Energy uses gas to generate about 35 percent of its electricity.”

Ms In’t Veld said Verve Energy will continue its program of continuous improvement to control its costs and minimise the impact of rising costs.

Verve Energy is the largest generator in the WA electricity market, supplying about 60 percent of the State’s electricity.

CONTACT

Peter Winner 9424 1977, 0429 041 840

31.Aug

| Solar farm underway

Verve Energy, First Solar and GE Energy Financial Services have announced that Australia’s first utility-scale solar power project is under way.

Output from the 10-megawatt project on 80 hectares of cleared land 50km southeast of Geraldton will contribute to offsetting the energy requirements of the Southern Seawater Desalination Plant.

Western Australian state-owned power utility Verve Energy and GE Energy Financial Services will each own 50 percent of the Greenough River Solar Farm, with the WA Government providing A$20 million, including A$10 million from the WA Royalties for Regions program. No debt will be raised to fund the project.

The WA Water Corporation, which is building the Southern Seawater Desalination Plant, has committed to purchase 100 percent of the solar farm’s output.

First Solar has agreed to supply the project with over 150,000 of its advanced thin film photovoltaic (PV) modules and provide engineering, procurement and construction services, in addition to operations and maintenance support once the solar farm is operational. The agreement is subject to the satisfaction of certain statutory requirements.

Welcoming the go-ahead for this green project, Verve Energy General Manager Strategy and Business Development Tony Narvaez said: “The solar farm is important for Verve Energy, for Western Australia and for the local renewable energy sector. It enhances Verve Energy’s reputation as a renewable energy innovator.”

The solar farm will be the first utility-scale PV project in Australia, 10 times larger than any other operating solar project in the country.

Taking advantage of the area’s vast dry, flat and sunny conditions, it is expected to be fully operational mid next year.

“This announcement demonstrates the significant potential for renewable energy generation – especially utility-scale solar in WA and throughout Australia,” said Jim Brown, President of Utility Systems Business Group for First Solar.

“We’re pleased to bring our expertise in advanced PV technology and utility-scale solar deployment to Verve Energy and GE Energy Financial Services to deliver this groundbreaking project.”

For GE Energy Financial Services, the project represents its first renewable energy investment in Australia, adding to its global portfolio of more than US$400 million of solar power equity and debt investments in 42 projects.

“This transaction enables us to apply our renewable energy investment expertise to a new market, add to our portfolio of projects with First Solar and to GE’s broader work with Verve Energy,” said Jason Willoughby, GE Energy Financial Services’ Australia business leader.

“This project also will support GE’s ecomagination program, in our aim to help customers meet their environmental challenges.”

Providing clean, affordable and sustainable energy to partially power the Southern Seawater Desalination Plant, near the town of Binningup, the solar project is expected to create more than 50 construction jobs. The project, which will produce energy when it is most needed – during the day, will displace 25,000 tonnes per year of greenhouse gas emissions, the equivalent of taking 5,000 cars off the road.

Western Australia requires new desalination plants to use power generated from renewable sources. The state’s primary supplier of water, wastewater and drainage services, the Water Corporation, will purchase the power generated by the solar farm for the Southern Seawater Desalination Plant. The plant will produce about 50 gigalitres of potable water per year.

For more information about First Solar, please visit http://www.firstsolar.com

For more information about GE Energy Financial Services, visit http://www.geenergyfinancialservices.com

To find out more about GE, visit the company’s web site at www.ge.com