MN8 Energy Sources 457 MW of American Solar Modules from First Solar
MN8 Energy Sources 457 MW of American Solar Modules from First Solar Morningstar
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MN8 Energy Sources 457 MW of American Solar Modules from First Solar
MN8 Energy LLC (“MN8”) has placed orders for 457 megawatts (MW) of advanced thin film solar modules from First Solar, Inc. (“First Solar”). The order includes 170 MW of Series 6 Plus bifacial modules and 287 MW of Series 7 modules. These modules will be used to power projects in the northeastern and southern United States.
Background
MN8, formerly known as Goldman Sachs Renewable Power, is a renewable energy company that owns and operates a 3.2 gigawatt (GW) portfolio. They provide renewable energy solutions to various corporates, government entities, and utilities. MN8 has previously worked with First Solar when they acquired the 123 MW American Kings Solar project in California.
Commitment to Sustainable Development Goals
MN8 is committed to supporting the Sustainable Development Goals (SDGs) by developing a robust domestic supply chain for the US renewable industry. They aim to uphold the highest environmental, sourcing, and manufacturing standards. MN8 believes that collaborating with partners like First Solar, who share their commitment to responsibly and domestically produced solar, strengthens the industry’s social license to operate.
First Solar’s Role
First Solar, the largest solar manufacturer in the western hemisphere, is a leading American solar technology company. They provide eco-efficient solar modules that contribute to the fight against climate change. First Solar’s investments in U.S. manufacturing make them a significant enabler of American jobs in the solar industry. According to a recent study, First Solar supported an estimated 16,245 direct, indirect, and induced jobs in 2023. As their capacity grows, they are projected to support even more jobs across the country.
Future Plans
First Solar plans to expand its Ohio footprint to over 7 GW of annual nameplate capacity this year. They also expect to invest over $2 billion in new manufacturing facilities in Alabama and Louisiana, which will come online in 2024 and 2025 respectively. Additionally, First Solar will commission approximately $450 million in R&D innovation infrastructure in Perrysburg, Ohio in the second half of this year.
About MN8 Energy LLC
MN8 Energy LLC serves enterprise customers on their journey to an electrified, decarbonized world by providing renewable energy and related services. They have a more than 3.2 gigawatt solar fleet across 28 states, as well as battery storage projects and EV charging solutions. MN8 is one of the largest independent solar energy and energy storage power producers in the United States.
About First Solar, Inc.
First Solar is a leading American solar technology company that produces eco-efficient solar modules. Their advanced thin film photovoltaic (PV) modules provide a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet.
Contact Information
Media
Reuven Proença
First Solar Media
media@firstsolar.com
Investors
Richard Romero
First Solar Investor Relations
investor@firstsolar.com
MN8 Energy
Candice Adams
Head of Communications, MN8 Energy
candice.adams@mn8energy.com
+1-332-345-2243
View source version on businesswire.com: https://www.businesswire.com/news/home/20240501307815/en/
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
The article discusses the procurement of solar modules by MN8 Energy LLC, highlighting the use of renewable energy sources and the commitment to responsible and domestically produced solar. These align with SDG 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. The article also mentions First Solar’s investments in U.S. manufacturing facilities, contributing to SDG 9’s target of promoting sustainable industrialization and fostering innovation. Additionally, the emphasis on responsible and domestically produced solar aligns with SDG 12’s goal of promoting sustainable consumption and production patterns.
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase the share of renewable energy in the global energy mix
- SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
- SDG 12.2: Achieve sustainable management and efficient use of natural resources
The procurement of solar modules by MN8 Energy LLC contributes to SDG 7.2 by increasing the share of renewable energy in the global energy mix. The investment in U.S. manufacturing facilities by First Solar aligns with SDG 9.4, as it involves upgrading infrastructure and making industries more sustainable. The commitment to responsible and domestically produced solar supports SDG 12.2’s target of achieving sustainable management and efficient use of natural resources.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Percentage of renewable energy in the global energy mix
- Investment in sustainable infrastructure and retrofitting industries
- Proportion of domestically produced solar energy
The article does not provide specific data or indicators to measure progress towards the identified targets. However, the mentioned procurement of solar modules and investments in U.S. manufacturing facilities indicate progress towards increasing the share of renewable energy, upgrading infrastructure, and promoting domestically produced solar energy.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase the share of renewable energy in the global energy mix | Percentage of renewable energy in the global energy mix |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | Investment in sustainable infrastructure and retrofitting industries |
| SDG 12: Responsible Consumption and Production | 12.2: Achieve sustainable management and efficient use of natural resources | Proportion of domestically produced solar energy |
Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.
Fuente: morningstar.com
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