First Solar, Inc. (Nasdaq: FSLR) today broke ground on its third
manufacturing facility in Ohio at a ceremony that was attended by
United States Secretary of Labor Marty Walsh, the Lieutenant
Governor of Ohio, Jon Husted, and US Representatives Bob Latta
(OH-05) and Marcy Kaptur (OH-09).
The new 3.3 gigawatt (GW)DC facility, which is
scheduled to commence operations in the first half of 2023,
represents a $680 million investment. When fully operational, the
facility is expected to scale the company’s Northwest Ohio
footprint to a total annual capacity of 6 GWDC, which is believed
to make it the largest fully vertically integrated solar
manufacturing complex outside China.
“First Solar’s new factory in Ohio is a model of
President Biden’s vision for keeping America competitive by
investing in clean energy and creating good jobs,” said Secretary
Walsh. “Not only does this facility advance innovative
manufacturing for a sustainable future, First Solar is also
investing in its workers through skills training, competitive pay,
and robust benefits. Empowering all of America’s workers is how
we’ll build back a better economy and win the future.”
The facility is forecast to create over 700
permanent jobs in addition to the over 1,600 people that First
Solar currently employs in Ohio. Founded in 1999, First Solar has
had a manufacturing presence in the state since it began commercial
production at its original Perrysburg factory in 2002, when it
produced 1.5 megawatts (MW)DC of modules and employed 150 people.
Since then the company has invested over $2 billion in expanding
its Ohio manufacturing presence, making the state home to the
largest photovoltaic solar manufacturing footprint in the Western
Hemisphere when it commissioned its second factory in 2019.
“Ohio is a proud home to another First Solar
expansion as we offer a great business environment, workforce and
the resources to build a domestic solar energy competitor in a
market dominated by Chinese imports,” said Lieutenant Governor
Husted. “This new facility represents another win as we expand
high-tech manufacturing in Northwest Ohio, creating great,
higher-paying jobs that will be here for years to come.”
“First Solar has been a leader in creating and
supporting new high-quality jobs and advancing technologies that
benefit both the environment and the economy,” said Representative
Latta. “Today’s groundbreaking will mean hundreds of new jobs in
Northwest Ohio and increased economic growth in the region. It’s
essential that we support American-made energy companies like First
Solar, which are competing with Chinese solar panel manufacturers
for market share in the renewable energy space.”
Unique among the world’s ten largest solar
manufacturers for being the only US-headquartered company, for not
using a crystalline silicon (c-Si) semiconductor, and for not
manufacturing in China, First Solar produces its thin film PV
modules using a fully integrated, continuous process under one roof
and does not rely on Chinese c-Si supply chains. The company’s
eco-efficient module technology, which uses its proprietary Cadmium
Telluride (CadTel) semiconductor, has the lowest carbon and water
footprints of any PV module available today.
“The further expansion of First Solar’s
production and the jobs it will create, marks another significant
step forward on our path toward a more reliable, affordable, and
secure energy future,” said Representative Kaptur. “With First
Solar’s investment of nearly $700 million, we are affirming
northern Ohio’s role as America’s capital of solar innovation and
as home to the world-class workforce that is building us
forward.”
The facility will be one of the most advanced of
its kind in the solar industry, allowing First Solar to produce an
anticipated average of one module roughly every 2.75 seconds across
its three-factory Ohio footprint once it achieves its full
production capacity. The facility will combine highly skilled
workers with Industry 4.0 architecture, machine-to-machine
communication, artificial intelligence, and Internet of Things
connectivity to produce a higher degree of automation, precision,
and continuous improvement.
“Today, we’re leading the efforts to revitalize
American solar manufacturing and secure critical clean energy
supply chains because reliable access to competitive, efficient
solar panels is essential to our country’s future. Solar panels are
the next crude oil, and we cannot be beholden to adversarial
nations for our supply,” said Mark Widmar, chief executive officer,
First Solar. “We’re scaling US cleantech innovation by investing in
R&D, ensuring that a uniquely American solar technology that
was developed right here in Ohio remains competitively advantaged.
And we’re taking it a step further by producing the next generation
of solar panels designed and made in the USA for the American solar
industry.”
The 1.8 million square foot facility is expected
to produce an enhanced thin film PV module for the utility-scale
solar market in the US, which is anticipated to have a higher
efficiency and wattage in a larger form factor. The additional
production capacity from this new facility, when available, is also
expected to help mitigate the challenges currently being
experienced in the global ocean freight market, by reducing the
transoceanic gap between international supply and domestic
demand.
The new facility will be constructed by Rudolph
Libbe, Inc., and is expected to create 500 construction jobs for
union tradespeople in Northwest Ohio over the next 18 months.
About First Solar, Inc.First
Solar is a leading American solar technology company and global
provider of responsibly produced eco-efficient solar modules
advancing the fight against climate change. Developed at R&D
labs in California and Ohio, the company’s advanced thin film
photovoltaic (PV) modules represent the next generation of solar
technologies, providing a competitive, high-performance,
lower-carbon alternative to conventional crystalline silicon PV
panels. From raw material sourcing and manufacturing through
end-of-life module recycling, First Solar’s approach to technology
embodies sustainability and a responsibility towards people and the
planet. For more information, please visit www.firstsolar.com.
For First Solar InvestorsThis
release contains forward-looking statements which are made pursuant
to safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include, but
are not limited to, statements concerning (i) First Solar’s
expected approximately $680 million investment to establish a third
US manufacturing facility, (ii) its anticipated annual capacity of
3.3 GWDC, and (iii) when it will commence operations. These
forward-looking statements are often characterized by the use of
words such as “estimate,” “expect,” “anticipate,” “project,”
“plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,”
“likely,” “may,” “should,” “goal,” “target,” “might,” “will,”
“could,” “predict,” “continue” and the negative or plural of these
words and other comparable terminology. Forward-looking statements
are only predictions based on our current expectations and our
projections about future events and therefore speak only as of the
date of this release. You should not place undue reliance on these
forward-looking statements. We undertake no obligation to update
any of these forward-looking statements for any reason, whether as
a result of new information, future developments or otherwise.
These forward-looking statements involve known and unknown risks,
uncertainties, and other factors that may cause our actual results,
levels of activity, performance, or achievements to differ
materially from those expressed or implied by these statements.
These factors include, but are not limited to, the matters
discussed under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” of our most recent Annual Report on Form 10-K and our
subsequently filed Quarterly Reports on Form 10-Q, as supplemented
by our other filings with the Securities and Exchange Commission.
MediaReuven ProençaFirst Solar
Mediareuven.proenca@firstsolar.com |
InvestorsMitchell EnnisFirst
Solar Investor Relationsmitchell.ennis@firstsolar.com |
Photos accompanying this announcement are available at
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