SPI Energy to spend USD 66m on solar gigafactory in S Carolina

• US renewable resource team SPI Energy Co Ltd (NASDAQ: SPI) has committed to spending USD 65.9 million (EUR 60.2 m) in a project that will increase its solar wafer as well as module production in South Carolina, according to growing demand for US-made products.

The project entails creating a new gigawatt-scale plant that would eventually be able to produce 3 GW of silicon wafers and 2.4 GW of solar (PV) panels, SPI stated last week. The capacity will certainly help grow the production abilities of the company's SEM Wafertech and Solar4America Technology subsidiaries.

The center will certainly be housed in an existing structure in the city of Sumter, with first production as a result of begin in the fourth quarter of this year. The wafer manufacturing capacity will be gradually enhanced to 3 GW by 2024.

"We intend to bring the highest-quality domestically produced solar wafers and modules to market, boosting our country's manufacturing capacities with a long-term financial investment that will develop good paying jobs for South Carolina," claimed Denton Peng, Chairman of SEM Wafertech and Solar4America.

The project is prepared to open up around 300 job placements.