- As previously announced, to invest up to $1.1 Billion in 3.5 GW
fully vertically integrated solar manufacturing facility
- Louisiana manufacturing plant will create over 700 new direct
manufacturing jobs in the state
First Solar, Inc. (Nasdaq: FSLR) today announced that it has
selected the Acadiana Regional Airport in Iberia Parish, Louisiana
as the location for its previously announced fifth fully vertically
integrated manufacturing facility in the United States. The
facility, believed to be the single largest capital investment in
the area’s history, represents an investment of up to $1.1 billion
in expanding America’s capacity to produce its own photovoltaic
(PV) solar modules. Expected to be completed in 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 in 2026.
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First Solar today announced that it has
selected the Acadiana Regional Airport in Iberia Parish, Louisiana
as the location for its previously announced fifth fully vertically
integrated manufacturing facility in the United States. The
company’s investment in Louisiana is expected to create over 700
new direct manufacturing jobs in the state. (Photo: Business
Wire)
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 over 2,500 employees across the country,
expects to have over 4,000 direct employees in the country by 2026,
including 850 new manufacturing jobs expected to be created in
Alabama and Ohio and over 100 new R&D jobs planned in Ohio.
“First Solar’s selection of Iberia Parish for its newest solar
panel production facility leaves no doubt that Louisiana is leading
the global energy transition, and creating good-paying jobs as a
result,” said Louisiana Governor John Bel Edwards said. “This
massive investment and the jobs it will create are a huge win for
the people of Acadiana and the entire state. It is proof positive
that Louisiana’s ‘all-of-the-above’ approach to energy is growing
and diversifying our economy. Thank you to everyone who made this
day a reality, and a special thank-you to First Solar for trusting
Louisiana to be part of their mission to create a more sustainable
future.”
First Solar is unique among the world’s ten largest solar
manufacturers for being the only US-headquartered company and not
manufacturing in China. The company’s tellurium-based
semiconductor, which allows it to avoid any dependence on Chinese
crystalline silicon supply chains, is the second most common
photovoltaic technology available today.
“We are pleased to partner with Louisiana as we lean into our
commitment to creating enduring value for America by expanding our
solar manufacturing footprint and the domestic value chains that
enable it,” said Mark Widmar, chief executive officer, First Solar.
“As we evaluated our options, Louisiana’s ability to deliver the
talent we need stood out, thanks to its extensive workforce
development initiatives and the presence of academic institutions
such as the University of Louisiana at Lafayette which now features
a world-class solar energy lab.”
Widmar added, “In bringing our unique, fully vertically
integrated solar manufacturing model to Louisiana, we expect the
plant to mirror the commitment to Responsible Solar evident at
every First Solar manufacturing facility, which are among the
cleanest, safest, and most diverse in the industry. We are proud
that our investment in American manufacturing will create stable,
good-paying manufacturing jobs and economic and social value in the
state.”
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 second half 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.
The new Louisiana facility 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.
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 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; 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; and 8) our expectation that our new
manufacturing facility in India will commence commercial operations
in the second half 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/20230810247940/en/
Media Reuven Proença
First Solar Media reuven.proenca@firstsolar.com
Investors Robyn Remes
First Solar Investor Relations investor@firstsolar.com
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