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First Solar (NASDAQ:FSLR) said Wednesday it selected Lawrence County in Alabama to build a planned $1.1B factory that will manufacture photovoltaic solar panels.
The factory is part of First Solar’s (FSLR) previously announced plan to increase its manufacturing capacity to more than 10 GW by 2025; the company already has three factories in Ohio, one of which is expected to begin production next year.
The Alabama plant is expected to be commissioned by 2025, with a planned annual capacity of 3.5 GW.
First Solar (FSLR) said the latest project will bring its total investment in the U.S. manufacturing to more than $4B.
CEO Mark Widmar has said the Inflation Reduction Act was the key catalyst that led the company to choose the U.S. for its latest factory.
Image and article originally from seekingalpha.com. Read the original article here.