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Azure Power Signs Agreement for 600 MW of First Solar's High-Performance Modules

Azure Power signs on as launch customer for modules made in India by First Solar   

NEW DELHI, India, and TEMPE, Ariz., Sept. 19, 2022 /PRNewswire/ — Azure Power Global Limited (NYSE: AZRE) (“Azure Power”), a leading independent sustainable energy solutions provider and renewable power producer in India, announced that it has entered into an agreement for 600 megawatts (MW)DC of high-performance, advanced thin film photovoltaic (PV) solar modules from First Solar, Inc. (NASDAQ: FSLR).

The agreement is the first for production from First Solar’s new manufacturing facility in Tamil Nadu, India, which is expected to be commissioned in the second half of 2023. Under the agreement, Azure Power is expected to take delivery of First Solar’s Series 7 photovoltaic (PV) solar modules from the fourth quarter of 2023 to 2025.

“We are pleased to partner with First Solar with their latest Series 7. Having a long-term agreement with global solar modules technology leaders like First Solar is key to de-risking our supply side with the latest technology available in the market,” said Rupesh Agarwal, acting chief executive officer, Azure Power.

First Solar’s vertically integrated manufacturing facility, located near Chennai, is projected to have an annual nameplate capacity of 3.3 GWDC and is expected to produce a version of the company’s Series 7 modules that is optimized for the Indian market. Unique among the world’s ten largest solar manufacturers for being the only US-headquartered company, First Solar produces its thin film PV modules using a fully integrated, continuous process under one roof.

“Our relationship with Azure Power goes back over a decade and we are pleased that it is the launch customer for a product that has not only been designed for India, but made in India, for India,” said Georges Antoun, chief commercial officer, First Solar. “This deal demonstrates how experienced developers and independent power producers in India are increasingly taking a strategic view on procurement and securing long-term commitments that help tackle the risks of short-term pricing and supply volatility. When working with First Solar, they benefit from certainty of pricing and supply, and a technology that is advantaged in India’s operating environments.”    

Designed and developed at its research and development (R&D) centers in the United States, First Solar’s responsibly produced advanced thin film PV modules set industry benchmarks for quality, durability, reliability, design, and environmental performance. The modules have a carbon footprint that is 2.5 times lower and a water footprint that is three times lower than the average crystalline silicon solar panel made with cells produced in China. Additionally, First Solar is the only company among the ten largest solar manufacturers globally to be a member of the Responsible Business Alliance (RBA), the world’s largest industry coalition dedicated to supporting the rights and well-being of workers and communities in the global supply chain.

In addition to its new manufacturing facility in India and a third factory in the US, both of which are expected to come online in 2023, First Solar recently announced that it plans to invest up to $1.2 billion in building a fourth factory in the US Southeast and expanding the capacity of its existing manufacturing footprint in Ohio. The new investments are expected to scale the company’s annual manufacturing capacity in the US by 4.4 GWDC allowing it to reach over 20 GWDC of global annual manufacturing capacity by 2025.      

About Azure Power

Azure Power is a leading independent sustainable energy solutions provider, and renewable power producer in India on a mission to create value for all stakeholders through high-performance Renewable Energy assets. It developed India’s first utility scale solar project in 2009 and since then, Azure Power has grown rapidly to become a leader in developing and operating large utility-scale renewable energy projects in the country. Azure Power also partners with commercial and industrial customers in their decarbonization journey by providing comprehensive solutions for their clean energy needs. For more information, please visit www.azurepower.com   

For Azure Power Investors

This press release contains forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and the US Private Securities Litigation Reform Act of 1995, including statements regarding Azure Power’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause Azure Power’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of financing/refinancing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; cancellation of PPAs; changes in policies and regulations including net metering and interconnection limits or caps; ongoing and potential litigation and/or regulatory investigations; failure and delays in making regulatory filings (including in India, Mauritius and United States); the availability of rebates, tax credits and other incentives; curtailment; the availability of solar panels and other raw materials; its limited operating history, its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that Azure Power files with the US Securities and Exchange Commission from time to time. All forward-looking statements in this press release are based on information available to Azure Power as of the date hereof, and Azure Power assumes no obligation to update these forward-looking statements.

About First Solar, Inc.

First Solar is a leading American solar technology company and global provider of responsibly produced eco-efficient solar modules advancing the fight against climate change. Developed at R&D labs in California and Ohio, the company’s advanced thin film photovoltaic (PV) modules represent the next generation of solar technologies, providing a competitive, high-performance, lower-carbon alternative to conventional crystalline silicon PV panels. From raw material sourcing and manufacturing through end-of-life module recycling, First Solar’s approach to technology embodies sustainability and a responsibility towards people and the planet. For more information, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning an order for 600 MWDC of solar modules by Azure Power;  the expectation that First Solar’s new facility in Tamil Nadu, India will be commissioned in the second half of 2023; the projected nameplate capacity of that facility; the expectation that First Solar’s third factory in the U.S. will come online in 2023; First Solar’s plan to invest up to $1.2 billion in building a fourth factory in the US Southeast and expanding the capacity of its existing manufacturing footprint in Ohio; and First Solar’s expectation that such new investment will scale the company’s annual manufacturing capacity in the US by 4.4 GWDC allowing it to reach over 20 GWDC of global annual manufacturing capacity by 2025. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.  

Media

 

Reuven Proença

 First Solar Media

media@firstsolar.com

Investors

 

Richard Romero

First Solar Investor Relations

investor@firstsolar.com



Samitla Subba                                

Azure Power Media

pr@azurepower.com

Vikas Bansal

Azure Power Investors Relations

ir@azurepower.com   

 

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GLOBAL STANDARD OF CARE SIGNIFICANTLY REDUCED DUE TO MENTAL HEALTH OF HEALTHCARE WORKERS

Almost half of healthcare practitioners in global survey by WISH agree that the impact of the COVID-19 pandemic on their mental health has affected their ability to provide a high standard of care

DOHA, Qatar, Sept. 27, 2022 /PRNewswire/ — Incredibly high workloads and an increased level of workplace abuse since the start of the COVID-19 pandemic have taken a toll on the mental health of healthcare professionals, bringing down the standard of care delivery globally, an international study has shown.

59 percent of the healthcare professionals surveyed from the UK, US, Saudi Arabia, Nigeria, India and Brazil, agreed that their mental health has suffered due to working throughout the COVID-19 outbreak. Nearly half (48%) recognized that this has adversely impacted their ability to provide a high standard of patient care, with 56 percent saying they were inclined to leave their jobs since the global health crisis began.

The survey was conducted by YouGov on behalf of the World Innovation Summit for Health (WISH), the global health initiative of Qatar Foundation. The research examined the impacts of the ongoing pandemic on the lives of health and care workers to understand their experiences and feelings about their career and workplace, as well as explore how they see the future of healthcare as those serving on the frontline of care delivery.

Highlighting a major risk factor to their mental health, almost half of the healthcare professionals revealed that they had witnessed or experienced more physical and verbal abuse since the start of the pandemic. Chief Nursing Officers stood out here, with over three quarters (78%) agreeing they had either seen increased abuse or been at the receiving end of it.

Identifying the biggest changes to their work since the COVID-19 outbreak, more than half of all practitioners noted a  higher workload, with a third specifying colleagues under more stress as some of the most prominent developments.

“While health and care workers routinely experience physical and emotional stress from working in high pressure environments, delivering care throughout the COVID-19 pandemic has exacerbated these experiences, leading to an alarming impact on the mental health of caregivers on a global scale. It is imperative that governments, health systems and industry leaders listen to those that have been on the front line and learn from their experiences, to improve our collective response to the global mental health crisis that continues to compromise the quality of patient care across communities,” said Sultana Afdhal, CEO of WISH.

“As a champion of mental health, we believe this is a crucial area for global collaboration, and a tremendous opportunity for innovators, to revisit existing mechanisms, devise strategies and rebuild systems that help lift the burden from health and care workers and enable them to enhance care delivery,” Afdhal added.

WISH is a global platform which gathers healthcare experts, policymakers and innovators to unite in the goal of building a healthier world. The biennial WISH Summit aims to showcase WISH’s evidence-based research and discuss how to translate these findings into practical, policy-driven solutions that help transform global healthcare delivery.

The sixth edition of the summit is set to take place on October 4-6 in Doha, Qatar and virtually, under the banner of “Healing the Future.” The summit will thoroughly explore the legacy of COVID-19 from various perspectives, including how to build more resilient and sustainable healthcare systems, improve our response to the mental health crisis, and harness the rapid progress in pharmaceutical innovation that has taken place during the pandemic.

For more information on WISH, visit www.wish.org.qa.

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Vieworks to Showcase Industrial Cameras and Lenses at VISION 2022

ANYANG, South Korea, Sept. 27, 2022 /PRNewswire/ — Vieworks, a leading manufacturer of industrial cameras, is exhibiting at VISION 2022 (Booth 10E30) from October 4th to 6th. Vieworks will be displaying industrial cameras, industrial lenses, machine vision accessories, and industrial X-ray flat panel detectors at their booth.

With a resolution of 0.4 megapixel to 604 megapixels at up to 340 fps, Vieworks’ area scan cameras are suitable for a wide range of applications including flat panel inspection, semiconductor inspection, electronic component inspection, and factory automation. Equipped with hybrid TDI (Time Delayed Integration) sensors, Vieworks’ TDI line scan cameras—VT Series—are available in M42, M72, and M95 mounts from 3k to 23k resolution. Vieworks’ line scan cameras range from 2k to 16k resolution and demonstrate up to 200 kHz.

In addition to industrial cameras, Vieworks will be showcasing VEO Series, a line of lenses codeveloped with Schneider Kreuznach. Specifically designed to bring out the best of Vieworks’ TDI line scan cameras, VEO JM Series and VEO CS Series are compatible with 82 mm and 62.5 mm image circles. VEO YK Series and VEO HJ Series are optimized for image circle diameters of 43.2 mm and 60 mm to 90 mm, each accordingly. 

Aside from the cameras and lenses, Vieworks also presents complementary accessories and X-ray flat panel detectors. Based on proven expertise in X-ray imaging, Vieworks proudly offers their X-ray flat panel detectors for industrial applications including semiconductor inspection and battery inspection.

Along with the display of product lineup, eight different demonstrations on Vieworks’ cameras in diverse applications will be taking place at the booth. Demonstrations include IC chip alignment task using a 5 megapixel CXP-12 camera, display panel inspection with ultra high resolution 152 megapixel camera, and solution-based auto focus tracking system with 23k TDI line scan camera and high magnification lens.

About Vieworks Co., Ltd.

With industry-leading technology, Vieworks provides machine vision solutions encompassing industrial cameras, lenses, and accessories. As your vision partner, Vieworks delivers the most valued and high-quality images and offers innovative vision and insight for all. For more information, please visit vision.vieworks.com.

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Internet sensation Khaby Lame announced as QNB Group's Official FIFA World Cup Qatar 2022™ Brand Ambassador

DOHA, Qatar, Sept. 27, 2022 /PRNewswire/ — QNB, the largest financial institution in the Middle East and Africa, has revealed today that Internet sensation Khabane “Khaby” Lame will be the bank’s Official FIFA World Cup Qatar 2022™ Brand Ambassador. The partnership will build on QNB Group’s role as the Official Middle East and Africa supporter and Official Qatari Bank of the tournament.

 

 

As part of the partnership, Lame, who is the world’s most followed person on TikTok with 150 million followers, will launch his first-ever television commercial with QNB Group, exploring the theme of “dreaming big” – underpinning the ethos of QNB Group’s role in this year’s FIFA World Cup™ tournament. The TVC was screened for the first time at an official signing ceremony on September 27, 2022.

Ms. Heba Ali Al-Tamimi, General Manager of QNB Group Communications, said: “Choosing Khaby Lame as QNB’s ambassador during the tournament, reflects the boundless ambition of Qatar by hosting the FIFA World Cup Qatar 2022™. By following his dreams, Lame, much like Qatar, has achieved his goals. We are celebrating together a world where everything is possible. As Qatar prepares to welcome millions of football fans this winter, we can certainly be proud of what we have achieved, both as a bank and as a country.”

Khaby Lame said: “I am happy to be QNB’s ambassador during the FIFA World Cup Qatar 2022™. I believe that I am very similar to QNB, I set my dreams and achieve the impossible. İ look forward to explore the tournament through QNB’s lens and to make unforgettable memories.”

QNB Group, currently ranked as the most valuable bank brand in the Middle East and Africa, is the Official Middle East and Africa Supporter of the FIFA World Cup Qatar 2022™. QNB will be granted various assets and rights across the region, as well as branding exposure in the Host Cities. The group has an extensive network of ATMs and locations and will be the sole provider of on-site ATMs at all eight FIFA World Cup Qatar 2022™ stadiums.

Through its subsidiaries and associate companies, the Group extends to more than 30 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is 27,000 operating through 1,000 locations, with an ATM network of more than 4,700 machines.

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Contact:

Kholoud Elderwy

+974 7796 0374 

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