American solar technology company First Solar has unveiled plans to invest up to $1.1bn to set up a fifth photovoltaic (PV) solar modules manufacturing facility in the US.
The proposed fully vertically integrated plant is projected to expand the company’s nameplate manufacturing capacity by 3.5GW. It will take the overall capacity of the company in the US to about 14GW in the US and globally to 25GW in 2026.
First Solar aims to complete and commission the PV solar module facility in the first half of 2026, subject to the receipt of the required permits and approvals.
The new solar modules facility will produce the company’s Series 7 modules by using fully US-made components as specified in the current domestic content guidance provided by the US Department of Treasury, said First Solar.
Besides, the proposed solar modules manufacturing facility is expected to generate more than 700 new jobs.
First Solar CEO Mark Widmar said: “With this investment, we continue to help deliver on the promise of the Inflation Reduction Act, which is to create enduring value for our country.
“By expanding America’s solar manufacturing base, and the value chains that support it, we are working to ensure that the US enters the next decade in a position of strength, fully capable of producing the technology it needs to complete its transition to a sustainable energy future.”
The company is yet to decide on the location of the solar modules manufacturing facility.
In the past year, and with this recent announcement included, First Solar has pledged a total of more than $2.8bn in capital investment and an additional manufacturing capacity of 7.9GW within the US.
Previously, the company had already disclosed an investment of around $1.3bn for establishing a new 3.5GW manufacturing facility in Alabama, along with a 900MW expansion of its current manufacturing setup in Ohio. These projects are scheduled for completion by the end of next year.
Separately, First Solar has announced a framework agreement with renewable energy platform Matrix Renewables, under which the latter will procure nearly 2.1GW of advanced thin film modules.
Under the agreement, the solar technology company will deliver solar modules between 2024 and 2027 to power Matrix Renewables’ projects in the US and Spain.
