First Solar Approves $1.1B Investment In Alabama Plant For Planned 3.5 GW Capacity Expansion

First Solar Approves $1.1B Investment In Alabama Plant For Planned 3.5 GW Capacity Expansion
  • First Solar, Inc. FSLR has selected Lawrence County, North Alabama, as the location for its fourth American photovoltaic (PV) solar module manufacturing facility.
  • The company expects the new factory to create over 700 new direct jobs in the state.
  • The planned factory in Lawrence County's Mallard Fox Industrial Park represents an investment of approximately $1.1 billion and is expected to be commissioned by 2025, with a planned annual capacity of 3.5 GWDC.
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  • The new fully vertically integrated facility will join three Ohio factories, including one scheduled to come online in 1H23, to form part of First Solar's expanded domestic manufacturing footprint.
  • "The passage of the Inflation Reduction Act of 2022 has firmly placed America on the path to a sustainable energy future," said CEO Mark Widmar. 
  • "This facility, along with its sister factories in Ohio, will form part of the industrial foundation that helps ensure this transition is powered by American innovation and ingenuity."
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  • Price Action: FSLR closed at $158.54 on Wednesday.

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