Press release
American Solar: First Solar to Invest up to $1.1 Billion in Fifth US Manufacturing Facility, Adding 3.5 GW of Nameplate Capacity in 2026
To increase First Solar’s nameplate capacity to approximately 14 GW in US, 25 GW globally in 2026 TEMPE, Ariz.--(BUSINESS WIRE)-- First Solar, Inc. (Nasdaq:
About this update from First Solar, Inc.
[{"type":"text","content":"\nTo increase First Solar’s nameplate capacity to approximately 14 GW in US, 25 GW globally in 2026\n\n\n TEMPE, Ariz.--(BUSINESS WIRE)--\nFirst Solar, Inc. (Nasdaq: FSLR) today announced its intention to build a fifth manufacturing facility in the United States, investing up to $1.1 billion in further expanding America’s capacity to produce its own photovoltaic (PV) solar modules. The planned fully vertically integrated facility, the location of which is yet to be determined, is expected to grow the company’s nameplate manufacturing capacity by 3.5 gigawatts (GW) to reach approximately 14 GW in the US and 25 GW globally in 2026.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230727172431/en/First Solar today announced its intention to build a fifth manufacturing facility in the United States, investing up to $1.1 billion in further expanding America’s capacity to produce its own photovoltaic solar modules. The planned fully vertically integrated facility, the location of which is yet to be determined, is expected to grow the company’s nameplate manufacturing capacity by 3.5 gigawatts (GW) to reach approximately 14 GW in the US and 25 GW globally in 2026. (Photo: Business Wire)\nThe new facility, which is anticipated to be completed and commissioned in the first half of 2026, will produce First Solar’s Series 7 modules, which are expected to be manufactured with 100% US-made components identified in the current domestic content guidance issued by the US Department of Treasury. First Solar anticipates that once the new factory is completed and ramped, Series 7 modules will account for over two thirds of its annual domestic nameplate capacity. Series 7 modules currently produced at the company’s Ohio facility are already manufactured with US-made glass and steel.\n\n\n“This decision is underpinned by robust fundamentals, including an order backlog of approximately 78 gigawatts, the industry’s strongest balance sheet, a repeatable vertically integrated manufacturing template, and a proven technology platform,” said Mark Widmar, chief executive officer, First Solar. “With this investment, we continue to help deliver on the promise of the Inflation Reduction Act, which is to create enduring value for our country. By expanding America’s solar manufacturing base, and the ...