The US Department of Energy (DOE) has closed a $1.45bn loan guarantee for Hanwha Q Cells (Qcells) to fund its solar supply chain facility in Georgia, US.
Q Cells is a North American crystalline silicon solar manufacturing firm.
The funding, granted by Loan Programs Office (LPO), is part of the Biden-Harris Administration’s Investing in America agenda.
To be located in Cartersville, the new solar manufacturing facility entails a total investment of approximately $2.8bn. It is set to become the largest ingot and wafer plant in the US.
The plant will produce ingots, wafers, solar cells, and finished panels.
It is also slated to become the first fully integrated silicon-based solar manufacturing plant built in the country in over a decade. The plant will re-establish critical elements of the domestic solar supply chain.
Once operational, the Cartersville solar supply chain manufacturing facility is expected to produce 3.3GW of solar panels annually, sufficient to power around 500,000 households in the US.
This initiative is also expected to cut emissions by over five million tons of carbon dioxide equivalent per year.
Besides, the Qcells facility is anticipated to create approximately 1,200 construction jobs and 1,650 full-time operational roles upon completion.
According to an analysis by the Cartersville-Bartow County Department of Economic Development, the investment could generate an additional 6,800 indirect jobs in the surrounding Bartow and Whitfield counties.
A potential sales output exceeding $2bn is also expected from the new solar manufacturing plant.
Previously, Qcells opened a solar manufacturing facility in Dalton, Georgia in 2019. The Dalton facility was recently expanded to produce 5.1GW of solar panels annually.
The new solar manufacturing plant is also aimed at reducing the US’ reliance on foreign imports, particularly from China and Southeast Asia.
Qcells stated: “Since Qcells opened its doors in Dalton, Georgia in 2019, Qcells has invested billions of dollars in creating a full solar supply chain, resulting in thousands of American jobs, progress towards energy independence and lower energy costs.
“The Department of Energy’s backing highlights the importance of this critical industry, and the collective effort needed to ensure American manufacturers have a chance to compete on a global scale and see long-term success.”
