Current:Home > Finance$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish -GrowthSphere Strategies
$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
EchoSense Quantitative Think Tank Center View
Date:2025-04-09 21:19:29
BATON ROUGE, La. (AP) — The largest solar energy manufacturer in the Western Hemisphere is planning to build a $1.1 billion facility in southwest Louisiana, the governor’s office said.
First Solar’s site will be located at the Acadiana Regional Airport in Iberia Parish, Edwards’ office said Thursday in a news release. The project is expected to create about 700 jobs and have an annual payroll of at least $40 million, officials said.
“First Solar’s selection of Iberia Parish for its newest solar panel production facility leaves no doubt that Louisiana is leading the global energy transition, and creating good-paying jobs as a result,” Gov. John Bel Edwards’ office said. “It is proof positive that Louisiana’s ‘all-of-the-above’ approach to energy is growing and diversifying our economy.”
The facility will produce high-performance photovoltaic solar modules that are expected to be made with all U.S.-made components, the governor’s office said. The project is expected to be completed in the first half of 2026.
“We are pleased to partner with Louisiana as we lean into our commitment to creating enduring value for America by expanding our solar manufacturing footprint and the domestic value chains that enable it,” said First Solar Chief Executive Officer Mark Widmar. “Louisiana’s ability to deliver the talent we need stood out, thanks to its extensive workforce development initiatives and the presence of academic institutions such as the University of Louisiana at Lafayette, which now features a world-class solar energy lab.”
The state offered the company an incentives package that included performance-based grants for site development and infrastructure improvements totaling $30 million. Iberia Parish and the Iberia Economic Development Authority are also committing to fund water and wastewater infrastructure.
Iberia Parish President M. Larry Richard, in a news release, said the project is a “game-changer.”
“We appreciate First Solar’s major investment and look forward to welcoming this international organization to the nation’s energy corridor,” Richard said.
Founded in 1999, First Solar is a leading American-based energy technology company and global provider of eco-efficient solar modules. The company is unique among the world’s 10 largest solar panel manufacturers as the only company with a U.S. headquarters and without a base of operations in China.
veryGood! (2586)
Related
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- North Dakota Sen. Kevin Cramer's son in police chase that ends in deputy's death
- Derek Hough reveals wife Hayley Erbert underwent emergency surgery for 'cranial hematoma'
- Amazon’s plans to advance its interests in California laid bare in leaked memo
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Construction of a cable to connect the power grids of Greece and Cyprus is set to start next year
- Scientists: Climate change intensified the rains devastating East Africa
- 20 Thoughtful Holiday Gift Ideas For College Students They'll Actually Use
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Alex Ovechkin records 1,500th career point, but Stars down Capitals in shootout
Ranking
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- House censures Rep. Jamaal Bowman for falsely pulling fire alarm
- California expands insurance access for teens seeking therapy on their own
- CosMc's: McDonald's reveals locations for chain's new spinoff restaurant and menu
- Tom Holland's New Venture Revealed
- Tampa teen faces murder charge in mass shooting on Halloween weekend
- It was a great year for music. Here are our top songs including Olivia Rodrigo and the Beatles
- Man fatally shoots 11-year-old girl and wounds 2 others before shooting self, police say
Recommendation
Sonya Massey's father decries possible release of former deputy charged with her death
UNLV gunman was unemployed professor who had 150 rounds of ammunition and a target list, police say
Tonight is the first night of Hanukkah. How Jews are celebrating amid rising antisemitism.
Tim Allen slammed for being rude on 'The Santa Clauses' set: 'Worst experience'
Dick Vitale announces he is cancer free: 'Santa Claus came early'
A Chinese military surveillance balloon is spotted in Taiwan Strait, island’s Defense Ministry says
South Carolina’s top cop Keel wants another 6 years, but he has to retire for 30 days first
It was a great year for music. Here are our top songs including Olivia Rodrigo and the Beatles