American Solar: First Solar to Invest up to $1.1 Billion in Fifth US Manufacturing Facility, Adding 3.5 GW of Nameplate Capacity in 2026
27 Julho 2023 - 5:03PM
Business Wire
To increase First Solar’s nameplate capacity to
approximately 14 GW in US, 25 GW globally in 2026
First Solar, Inc. (Nasdaq: FSLR) today announced its intention
to build a fifth manufacturing facility in the United States,
investing up to $1.1 billion in further expanding America’s
capacity to produce its own photovoltaic (PV) solar modules. The
planned fully vertically integrated facility, the location of which
is yet to be determined, is expected to grow the company’s
nameplate manufacturing capacity by 3.5 gigawatts (GW) to reach
approximately 14 GW in the US and 25 GW globally in 2026.
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First Solar today announced its intention
to build a fifth manufacturing facility in the United States,
investing up to $1.1 billion in further expanding America’s
capacity to produce its own photovoltaic solar modules. The planned
fully vertically integrated facility, the location of which is yet
to be determined, is expected to grow the company’s nameplate
manufacturing capacity by 3.5 gigawatts (GW) to reach approximately
14 GW in the US and 25 GW globally in 2026. (Photo: Business
Wire)
The new facility, which is anticipated to be completed and
commissioned in the first half of 2026, will produce First Solar’s
Series 7 modules, which are expected to be manufactured with 100%
US-made components identified in the current domestic content
guidance issued by the US Department of Treasury. First Solar
anticipates that once the new factory is completed and ramped,
Series 7 modules will account for over two thirds of its annual
domestic nameplate capacity. Series 7 modules currently produced at
the company’s Ohio facility are already manufactured with US-made
glass and steel.
“This decision is underpinned by robust fundamentals, including
an order backlog of approximately 78 gigawatts, the industry’s
strongest balance sheet, a repeatable vertically integrated
manufacturing template, and a proven technology platform,” said
Mark Widmar, chief executive officer, First Solar. “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.”
Over the past year and including this announcement, First Solar
has committed to over $2.8 billion in capital investment and 7.9 GW
of additional manufacturing capacity in the US. The company had
previously announced an approximately $1.3 billion investment in a
new 3.5 GW manufacturing facility in Alabama and a 0.9 GW expansion
of its existing manufacturing footprint in Ohio, both of which are
expected to be completed at the end of 2024. First Solar, the
largest fully vertically integrated solar manufacturer in the
Western Hemisphere with 6.3 GW of operational capacity in the US,
also previously announced an investment of up to $370 million for a
dedicated R&D innovation center in Perrysburg, Ohio, which is
expected to be completed in 2024.
First Solar is already believed to be the largest employer in
America’s solar manufacturing sector with over 2,500 employees
across the country. The company estimates that the new facility
will add over 700 new jobs, which when combined with the 850 new
manufacturing jobs expected to be created in Alabama and Ohio and
over 100 new R&D jobs planned in Ohio, takes its total number
of direct jobs in the US to over 4,000 people across the country by
2026. The facility’s completion in 2026 is contingent upon
obtaining necessary permits and approvals.
About First Solar, Inc.
First Solar is a leading American solar technology company and
global provider of responsibly produced eco-efficient solar modules
advancing the fight against climate change. Developed at R&D
labs in California and Ohio, the company’s advanced thin film PV
modules represent the next generation of solar technologies,
providing a competitive, high-performance, lower-carbon alternative
to conventional crystalline silicon PV modules. From raw material
sourcing and manufacturing through end-of-life module recycling,
First Solar’s approach to technology embodies sustainability and a
responsibility towards people and the planet. For more information,
please visit www.firstsolar.com.
For First Solar Investors
This press release contains various “forward-looking statements”
which are made pursuant to safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, but are not limited to, statements concerning
1) our intention to invest up to $1.1 billion in a new 3.5 GW
manufacturing facility in the United States; 2) our expectation
that this new facility will be operational in 2026, add over 700
new jobs and will produce First Solar’s new Series 7 module; 3) our
expectation that the Series 7 module produced at this new facility
will be manufactured with 100% US-made components identified in the
current domestic content guidance issued by the US Department of
Treasury; 4) our forecast that our manufacturing footprint will
grow to approximately 14 GW in the US and 25 GW globally in 2026;
5) our previously announced investment in a new manufacturing
facility in Alabama and our expectation that this facility will be
commissioned by late 2024; 6) our plan to upgrade and expand our
Northwest Ohio manufacturing footprint by approximately 0.9 GW by
2024; and 7) our intention to invest up to $370 million in a
dedicated R&D innovation center in Perrysburg, Ohio and our
expectation that this innovation center will be comissioned in
2024. These forward-looking statements are often characterized by
the use of words such as “estimate,” “expect,” “anticipate,”
“project,” “plan,” “intend,” “seek,” “believe,” “forecast,”
“foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,”
“will,” “could,” “predict,” “continue” and the negative or plural
of these words and other comparable terminology. Forward-looking
statements are only predictions based on First Solar’s current
expectations and First Solar’s projections about future events and
therefore speak only as of the date of this release. You should not
place undue reliance on these forward-looking statements. First
Solar undertakes no obligation to update any of these
forward-looking statements for any reason, whether as a result of
new information, future developments or otherwise. These
forward-looking statements involve known and unknown risks,
uncertainties, and other factors that may cause First Solar’s
actual results, levels of activity, performance, or achievements to
differ materially from those expressed or implied by these
statements. These factors include, but are not limited to, the
matters discussed under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” of our most recent Annual Report on Form
10-K and our subsequently filed Quarterly Reports on Form 10-Q, as
supplemented by our other filings with the Securities and Exchange
Commission.
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Media Reuven Proença
First Solar Media reuven.proenca@firstsolar.com
Investors Robyn Remes
First Solar Investor Relations investor@firstsolar.com
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