Business
Canadian Solar Announces U.S. Solar Cell Manufacturing Facility in Jeffersonville, Indiana
GUELPH, ON, Oct. 30, 2023 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), headquartered in Guelph, Ontario, today
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, ON, Oct. 30, 2023 /PRNewswire/ -- Canadian Solar Inc. (the \"Company\" or \"Canadian Solar\") (NASDAQ: CSIQ), headquartered in Guelph, Ontario, today announced that it is establishing a 5 GW Solar PV cell production facility at the River Ridge Commerce Center in Jeffersonville, Indiana.\n\nCanadian Solar is building a state-of-the-art solar photovoltaic cell manufacturing plant with an annual output of 5 GW, equivalent to approximately 20,000 high-power modules per day. The Jeffersonville facility represents a projected investment of more than $800 million and will create approximately 1,200 skilled high-tech jobs once production is fully ramped up. The solar cells produced at this facility will be used at the previously announced 5 GW module assembly plant in Mesquite, Texas. Production at the Jeffersonville facility is expected to begin by the end of 2025.\n\"Indiana's strong advanced manufacturing sector positions the state to help lead the global energy transition, developing and powering new solutions in batteries, solar and hydrogen,\" said Governor Eric Holcomb. \"Canadian Solar's new U.S. location in Jeffersonville will put our skilled Hoosier workforce at the center of cultivating solar power, making energy efficient panels more accessible to consumers across the country.\"\nUnited States Senator Mike Braun stated, \"Indiana is a proud leader both in the Midwest and the country in manufacturing and innovation. I'm pleased to know that this new solar manufacturing facility opening in Jeffersonville will create many new jobs for Hoosiers and stimulate the local economy.\"\nEmphasizing the importance of this new facility, Thomas Koerner, Senior Vice President of Canadian Solar, said, \"Establishing this factory is a key milestone that will enable us to better serve our U.S. customers with the most advanced technology in the industry. This is the second of the anticipated long-term investments we expect to make in the U.S. as we think strategically about a local, sustainable and clean energy supply chain and to fulfill the long-term requirements of the local-content rules of the recently established IRA. We thank the State of Indiana, Clark County, and the City of Jeffersonville for their critical support and look forward to working with them as we grow.\"\n\"The city of Jeffersonville is pleased that Canadian Solar...