First Solar Expands Ohio Manufacturing and Distribution Footprint

• First Solar expands its manufacturing footprint in Ohio with a new distribution center, aiming to achieve 14 GW of US solar manufacturing capacity by 2026.

First Solar has acquired a 1.2 million sq ft facility in Ohio to serve as a new distribution center, expanding its manufacturing footprint in the state to over 7 GW. The company plans to invest over $2 billion in new manufacturing facilities in Alabama and Louisiana, with the goal of achieving 14 GW of fully integrated US solar manufacturing capacity by 2026. Additionally, First Solar will invest up to $370 million in an R&D innovation center in Ohio, expected to be completed in 2024. The facility in Ohio will be used to streamline logistics operations and reduce operating costs.

The acquisition of the facility in Ohio will allow First Solar to efficiently ship modules to customers and serve as a dedicated distribution hub. The company also sees the potential for the facility to be used as a light-scale satellite manufacturing location in the future. The expansion of First Solar's manufacturing capacity is part of its cost reduction roadmap and its aim to become a leader in US solar manufacturing.

How will First Solar's acquisition of an Ohio facility impact its manufacturing capacity?

• First Solar's acquisition of an Ohio facility is expected to significantly increase its manufacturing capacity.
• The acquisition will allow First Solar to expand its production capabilities and meet the growing demand for solar panels.
• With the additional facility, First Solar will be able to produce a larger number of solar panels, thereby increasing its overall output.
• The increased manufacturing capacity will enable First Solar to compete more effectively in the renewable energy market and potentially lower the cost of its solar panels.
• The acquisition will also create job opportunities in the Ohio region, as the facility will require additional staff to operate and manage the expanded manufacturing operations.
• By expanding its manufacturing capacity, First Solar will be better positioned to contribute to the global transition towards clean energy and reduce reliance on fossil fuels.
• The acquisition aligns with First Solar's long-term strategy to expand its presence in the renewable energy sector and support the development of sustainable energy solutions.
• The increased manufacturing capacity will also allow First Solar to meet the growing demand for solar panels in various markets, including residential, commercial, and utility-scale projects.
• The acquisition demonstrates First Solar's commitment to investing in and advancing renewable energy technologies, further solidifying its position as a leader in the industry.