US-headquartered First Solar has announced plans to invest up to $1.2 billion in scaling production of American-made photovoltaic (PV) solar modules.
The investment is forecast to expand the company’s ability to produce solar modules for the US market to over 10GW by 2025.
As part of the expansion, First Solar plans to build its fourth domestic factory in the Southeast of the country with an annual capacity of 3.5GW. Once the necessary permitting approvals are granted, the $1 billion factory will begin operating in 2025.
Besides the new factory, an investment of $185mn will be made in upgrading and expanding manufacturing at the Northwest Ohio complex by 0.9GW. Also, the facilities in Perrysburg and Lake Township, Ohio, will be expanded as well as a third Ohio-based solar PV factory, expected to be commissioned in the first half of 2023.
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The expansion will increase First Solar’s total investment in its Ohio manufacturing facilities to over $3 billion, with a total of 850 new manufacturing jobs resulting from the new investment.
Mark Widmar, chief executive officer, First Solar, said in a statement: “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.”
“While we have made no decisions at this time, we continue to evaluate further investments in incremental capacity and could announce further expansion plans in the future. Any such decision would be developed on a solid foundation of strong demand, a repeatable vertically integrated manufacturing template, a proven technology platform and a robust balance sheet,” Widmar added.
First Solar operates factories in Vietnam and Malaysia and is building its first manufacturing facility in India, scheduled to begin operations in the second half of 2023.
