First Solar to invest $1bn to ramp US PV manufacturing
- Investment will certainly expand the business's ability to domestically generate solar modules to over 10GW
First Solar intends to invest over $1bn in scaling production of US-made thin film solar modules, supporting the country's energy decarbonisation efforts.
The investment is forecast to expand the firm's ability to produce American-made solar modules for the United States solar market to over 10GW (dc) by 2025.
As part of its push to scale US production of solar modules, First Solar means to build its fourth, completely up and down integrated domestic manufacturing facility, with an annual capacity of 3.5 GW (dc), in the United States south-east.
First Solar, the only US-headquartered company among the globe's 10 largest PV producers, anticipates to invest up to $1bn in the new manufacturing facility, which, contingent upon allowing as well as pending authorization of numerous government, state, local, and neighborhood rewards, is anticipated to commence procedures in 2025.
Additionally, the company will certainly invest $185m in updating and broadening its north-west Ohio manufacturing footprint, which is the largest vertically-integrated complicated of its kind in the Western Hemisphere, by 900MW (dc).
As part of its plans, First Solar will certainly purchase broadening the capacity of its 2 operating facilities in Perrysburg and also Lake Township, Ohio, by 600MW (dc) to 3.6 GW (dc) of annual Series 6 module capacity.
The business will certainly likewise broaden its third Ohio manufacturing facility, expected to be commissioned in the very first half of 2023, to 3.5 GW (dc) of annual Series 7 module capacity.
The growth will certainly boost First Solar's complete investment in its Ohio manufacturing facilities to over $3bn, with an advancing annual production capacity of over 7GW (dc) by 2025.
First Solar approximates that the new investment will certainly include a minimum of 850 new manufacturing jobs, taking its complete variety of straight jobs in the US to over 3000 individuals in 4 states by 2025, which is believed to make it the biggest company in the American solar manufacturing market.
By 2025, First Solar is additionally expected to support an estimated 15,000 indirect and also stimulated jobs as a result of its continuous and also future production procedures.
"In passing the Inflation Reduction Act of 2022, Congress and also the Biden-Harris Management has actually delegated our industry with the obligation of making it possible for America's clean power future and we should fulfill the moment in a fashion that is both prompt and sustainable," stated Mark Widmar, chief executive officer, First Solar.