Louisiana manufacturing plant will create over 700 new direct
manufacturing jobs in the state
First Solar, Inc. (Nasdaq: FSLR) today broke ground on a
previously announced manufacturing facility in Iberia Parish,
Louisiana, its fifth fully vertically integrated factory in the
United States. The ceremony was attended by the Governor of
Louisiana, John Bel Edwards, and other dignitaries from the
state.
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First Solar today broke ground on a
previously announced manufacturing facility in Iberia Parish,
Louisiana, its fifth fully vertically integrated factory in the
United States. (L-R) John Pierson, Secretary, Louisiana Economic
Development; Kuntal Kumar Verma, Chief Manufacturing Officer, First
Solar; Caroline Stockdale, Chief People and Communications Officer,
First Solar; M. Larry Richard, President, Iberia Parish; John Bel
Edwards, Governor of Louisiana; Mark Widmar, Chief Executive
Officer, First Solar; Georges Antoun, Chief Commercial Officer,
First Solar; Jason Dymbort, General Counsel and Secretary, First
Solar; Mike Koralewski, Chief Supply Chain Officer, First Solar.
(Photo: Business Wire)
The facility, believed to be the largest capital investment in
the area’s history, represents an investment of approximately $1.1
billion in expanding America’s capacity to produce photovoltaic
(PV) solar panels. Expected to start commercial shipments by the
first half of 2026, the facility is forecast 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.
When completed, the fully vertically integrated manufacturing
facility will cover over two million square feet and is designed to
transform a sheet of glass into a ready-to-ship Series 7 module in
approximately 4.5 hours, producing over one dozen new
Louisiana-made solar panels every minute.
“This is a historic day for Iberia Parish and Louisiana as we
celebrate this record-breaking investment and the hundreds of
good-paying jobs it will create,” Gov. John Bel Edwards said.
“First Solar choosing our state for its newest solar panel
production facility solidifies Louisiana’s place as a leader in the
global energy transition. Thank you to everyone who worked so hard
to make this day happen, and we are all proud to welcome First
Solar to Louisiana.”
First Solar’s investment in Louisiana is expected to create over
700 new direct manufacturing jobs in the state. The company,
already believed to be the largest employer in America’s solar
manufacturing sector, with more than 2,500 employees across the
country, expects to have over 4,000 direct employees in the US by
2026.
“As America’s solar company, we are proud to welcome Louisiana
to the largest solar manufacturing footprint in the Western
Hemisphere,” said Mark Widmar, chief executive officer, First
Solar. “This facility, like its sister facilities in Ohio and
Alabama, represents First Solar’s investment in our country’s
future. We are creating enduring value for the US by building a
robust solar manufacturing base and the value chains that enable
it. This delivers jobs and economic value today, and establishes
the foundations needed for the country to enter the next decade
with a secure supply of solar energy technology.”
Since the start of this decade, First Solar has embarked on a
$4.1 billion manufacturing expansion strategy that has seen it grow
from approximately 6 GW of global nameplate capacity in 2020 to 13
GW operational today, with approximately 12 GW of nameplate
capacity expected to come online in the US and India between the
second half of 2023 and 2026. In addition to the Louisiana
facility, First Solar commissioned its third Ohio factory earlier
this year and is expected to complete its new facility in Alabama
and the expansion of its existing Ohio footprint in 2024. The
company also expects its new facility in India to begin commercial
production in the fourth quarter of this year. Additionally, the
company is investing up to $370 million in a dedicated R&D
innovation center in Perrysburg, Ohio, which is expected to be
completed next year.
Rudolph Libbe, Inc., will serve as the general contractor for
the project and has already engaged with Lafayette-headquartered
LEMOINE to assist with early site work. The new facility is
expected to create 500 construction jobs in Louisiana over the next
18 months.
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 Iberia Parish, Louisiana; 2) our
expectation that this new facility will be completed in the first
half of 2026, add over 700 new direct jobs and will produce First
Solar’s new Series 7 module; 3) our forecast that our manufacturing
footprint will grow to approximately 14 GW in the US and 25 GW
globally in 2026; 4) our previously announced investment in a new
manufacturing facility in Alabama and our expectation that this
facility will be commissioned by late 2024; 5) our plan to upgrade
and expand our Northwest Ohio manufacturing footprint by
approximately 0.9 GW by 2024; 6) 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; and 7) our expectation that our new
manufacturing facility in India will commence commercial operations
in the fourth quarter of 2023. 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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version on businesswire.com: https://www.businesswire.com/news/home/20230921973269/en/
Media John Kyte Kyte
Consulting for First Solar john@jkyteconsulting.com
Investors Richard
Romero First Solar Investor Relations
investor@firstsolar.com
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