Boviet Solar Launches 2-GW U.S. Factory This Year

• Boviet Solar is set to illuminate Greenville, NC with a groundbreaking 2-GW photovoltaic module factory, marking a significant leap in solar manufacturing and green investment.

Boviet Solar Technology Co. Ltd, a solar product manufacturer currently operating in Vietnam, plans to launch a 2-GW photovoltaic module factory in Greenville, North Carolina, in the first half of this year. The company is transforming a 500,000-square-foot facility into a hub for producing monofacial and bifacial PV modules as part of a $294 million investment plan, which also includes solar cell production.

As of now, Boviet has received all necessary equipment for the factory's conversion, with half already on-site. The initial phase of production is set to begin within the first six months of 2024, followed by a second phase involving a new facility for N-Type PV cells, anticipated to become operational in 2026. This marks Boviet's first manufacturing base in the U.S. and its second globally.

What are the key details of Boviet Solar's new factory in North Carolina?

• Location: The new factory is situated in Greenville, North Carolina, emphasizing the company's strategic choice of location for manufacturing solar products in proximity to key markets.
• Capacity: The factory is set to have a robust capacity of 2 gigawatts (GW) for photovoltaic (PV) module production, highlighting Boviet’s significant investment in scaling up solar manufacturing.
• Investment: Boviet Solar is committing $294 million to the establishment of this facility, demonstrating confidence in the growth potential of the renewable energy sector in the U.S.
• Factory Size: The existing facility covers 500,000 square feet, indicating a substantial footprint for manufacturing operations and future expansions.
• Product Types: The factory will produce both monofacial and bifacial PV modules. Bifacial modules have the advantage of capturing solar energy from both sides, which can enhance efficiency and output.
• Equipment Acquisition: Boviet has successfully received all necessary equipment for the factory's conversion, with approximately 50% already delivered on-site, ensuring a streamlined setup process.
• Production Timeline: The initial phase of production is slated to start within the first six months of 2024, showing a proactive approach to meeting the growing demand for solar energy.
• Expansion Plans: Following the initial phase, there are plans to expand with a new facility dedicated to N-Type PV cell production, which is expected to be operational around 2026, indicating long-term growth strategies.
• U.S. Manufacturing Presence: This facility marks Boviet's first manufacturing base in the United States, expanding its global footprint and allowing for closer engagement with the American market.
• Job Creation: The establishment of this factory is anticipated to create numerous jobs in the Greenville area, contributing positively to the local economy and supporting the workforce in renewable energy sectors.
• Environmental Goals: The factory's production capabilities will support the increasing transition towards renewable energy in the U.S., aligning with broader environmental goals and commitments to reduce carbon footprints.
• Market Demand: The move to set up a manufacturing base in the U.S. coincides with heightened demand for solar energy solutions, aligning Boviet with industry trends and governmental incentives for clean energy adoption.
• Supply Chain Optimization: By producing solar products domestically, Boviet aims to reduce reliance on international supply chains, mitigating risks associated with global disruptions and enhancing supply chain resilience.
• Community Engagement: Boviet is likely to engage with local communities and stakeholders to foster partnerships and support initiatives that promote clean energy education and adoption.

These key details outline the strategic significance of Boviet Solar's new factory in North Carolina and its potential impact on the solar energy landscape in the United States.