FSLR - First Solar wins government grant for 3.4 GW project in India

2023-03-29 08:53:58 ET

First Solar ( NASDAQ: FSLR ) said Wednesday its new solar module manufacturing facility in India was awarded production-linked financial incentives from the Indian government.

First Solar ( FSLR ) said it was one of only three manufacturers selected to receive the full range of incentives, which are reserved for fully vertically integrated manufacturing.

The company expects its new 3.4 GW facility, located in the state of Tamil Nadu, will be commissioned in this year's H2.

First Solar ( FSLR ) also is growing its U.S. manufacturing footprint to exceed 10 GW by 2025 when it completes a $185M expansion of existing capacity in Ohio and a new $1.1B factory in Alabama .

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