Production in its second Ohio facility includes a US$265 million investment into its coated glass factory.
First Solar (NASDAQ:FSLR), renewable energy company that has witnessed over 31 percent share price gains year-to-date announced that it has begun production in its second Ohio facility, bringing its total annualised production capacity to 1.9 gigawatts. To date, First Solar has received upwards of US$1 billion in investment across its solar energy facilities, emerging as the largest solar power company in the US.
As quoted in the press release:
First Solar’s expanded manufacturing footprint in the United States, which represents over $1 billion in cumulative investment and directly created approximately 500 new jobs, makes it the largest solar manufacturer in America and the Western Hemisphere. The investment includes a new $265 million TCO (transparent conductive oxide) coated glass factory being built by the NSG Group in Troy Township, Ohio, its first new float glass line in the country since 1980.
“Eighteen months ago, we announced that we would expand our manufacturing footprint in the United States in response to demand. We have delivered,” said Mark Widmar, Chief Executive Officer, First Solar. “The fact that we were able to transform a greenfield site into a high tech manufacturing facility in that time, and on time, speaks volumes about not just the scalability of our technology, and our ability to deliver on our commitments, but also the relentless energy of our people, our towering strength.”