FSLR - First Solar to spend $1.1B on Louisiana panel factory

2023-08-10 09:29:27 ET

First Solar ( NASDAQ: FSLR ) said Thursday it selected the Acadiana Regional Airport in Iberia Parish, Louisiana, as the location for its previously announced fifth fully vertically integrated photovoltaic solar module manufacturing facility in the U.S.

Expected to be completed in H1 2026, First Solar ( FSLR ) forecasts the $1.1B facility will raise the company's total nameplate manufacturing capacity by 3.5 GW to reach ~14 GW in the U.S. in 2026.

The new Louisiana plant will produce Series 7 modules, which the company said will account for more than two-thirds of its annual domestic nameplate capacity once the new factory is completed and ramped.

Since 2020, First Solar ( FSLR ) has embarked on a $4.1B manufacturing expansion strategy that has seen it grow from 6 GW of global nameplate capacity to 13 GW operational today, with another 12 GW expected to come online in the U.S. and India by 2026.

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