First Solar Inc., a leading global provider of photovoltaic (PV) solar solutions, has recently commenced construction on its newest manufacturing facility in Iberia Parish, Louisiana. This state-of-the-art facility, which marks the company’s fifth fully vertically integrated factory in the United States, represents a significant milestone in expanding America’s capacity to produce PV solar panels. Attended by Governor John Bel Edwards and other esteemed dignitaries, the groundbreaking ceremony witnessed the largest capital investment in the area’s history.

The facility, expected to start commercial shipments by the first half of 2026, will augment the company’s nameplate manufacturing capacity by 3.5 GW, reaching approximately 14 GW in the U.S. and 25 GW globally in 2026. With an investment of approximately $1.1 billion, this venture reinforces First Solar’s commitment to fostering sustainable energy solutions.

Once completed, this fully vertically integrated manufacturing facility will span over two million square feet. Its advanced technology will enable the transformation of a sheet of glass into a ready-to-ship Series 7 module in just 4.5 hours. Remarkably, the plant will produce over one dozen new Louisiana-made solar panels every minute.

As the largest employer in America’s solar manufacturing sector, First Solar is poised to make a lasting impact on job creation. Currently employing over 2,500 individuals across the country, the company anticipates having over 4,000 direct employees in the U.S. by 2026.

Under its $4.1 billion manufacturing expansion strategy initiated in 2020, First Solar has witnessed exponential growth, elevating its operational capacity from approximately 6 GW to 13 GW globally. Moreover, the company expects an additional 12 GW of nameplate capacity to come online in the U.S. and India between the second half of 2023 and 2026.

Aside from the Louisiana facility, First Solar has also recently commissioned its third factory in Ohio and anticipates the completion of its new Alabama facility, as well as the expansion of its existing Ohio footprint by 2024.

Leading the construction efforts, Rudolph Libbe Inc. will serve as the general contractor for this project. The architectural firm Lemoine, headquartered in Lafayette, will support the early site work. This groundbreaking initiative is projected to create 500 construction jobs in Louisiana over the next 18 months.

First Solar’s groundbreaking ceremony for its $1.1 billion facility in Louisiana heralds a significant stride towards bolstering America’s solar manufacturing capabilities. With a steadfast commitment to a sustainable energy future, the company’s investment will not only create new jobs but also establish a secure supply of solar energy technology in the years to come.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.