First Solar has unveiled plans to invest up to $1.2bn in a bid to expand solar panel production capabilities in the US.
The plan includes building a new factory with an annual capacity of 3.5 GWDC in the US Southeast.
The facility will be First Solar’s fourth fully vertically integrated factory in the country and will be developed with an investment of up to $1bn.
The location of the facility is expected to be finalised later this year. The factory is expected to begin operations in 2025, subject to necessary permissions and approvals.
Additionally, First Solar will spend $185m to upgrade its Northwest Ohio manufacturing footprint by 0.9 GWDC.
This will involve boosting the capabilities of its two operating facilities in Perrysburg and Lake Township. The company will also expand its third Ohio factory which is slated to be commissioned in the first half of next year.
With the new investment, First Solar seeks to scale its US-made production of solar photovoltaic (PV) modules for domestic market to more than 10GWDC by 2025.
Additionally, the investment is expected to add a minimum of 850 new manufacturing jobs making the company one of the largest employers in the American solar manufacturing sector with a workforce of over 3,000 people.
First Solar CEO Mark Widmar said: “This investment is an important step towards achieving self-sufficiency in solar technology, which, in turn, supports America’s energy security ambitions, its deployment of solar at scale, and its ability to lead with innovation.
“We are proud of the fact that our manufacturing presence in the US is expected to directly and indirectly support over 18,000 jobs across the country by 2025, while our manufacturing investment will add an estimated $3.2bn in value to the US economy, reflecting the impact of solar manufacturing on our country.”
