- 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.
- Also Read: First Solar Gets 21% Price Target Bump By Analyst, Here's Why
- 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."
- Related: Goldman Sachs Expects Solar Stocks To Continue Shining: Here Are The Biggest Beneficiaries Of The Inflation Reduction Act
- Price Action: FSLR closed at $158.54 on Wednesday.
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