Current:Home > News$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish -FinanceMind
$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
View
Date:2025-04-16 09:29:02
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! (564)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Man with boogaloo ties convicted in shooting death of federal officer during protests over George Floyd killing
- Kia and Hyundai recall more than 3 million vehicles due to the risk of fire
- Reno casino expansion plan includes new arena that could be University of Nevada basketball home
- Grammy nominee Teddy Swims on love, growth and embracing change
- EPA Rolls Out Training Grants For Environmental Justice Communities
- Massachusetts man indicted on charges of trying to open jet’s door, attacking crew on United flight
- Kia and Hyundai recall 3.3 million cars, tell owners to park outside
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- See Scumbag Tom Sandoval Willingly Get Annihilated By His Haters and Celebrity Critics
Ranking
- Rylee Arnold Shares a Long
- Auto workers union to announce plans on Friday to expand strike in contract dispute with companies
- New Jersey Supreme Court to rule on pandemic-related insurance exclusions
- Nashawn Breedlove, rapper who played Lotto in Eminem's film debut '8 Mile,' dies at 46
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- How much of what Lou Holtz said about Ohio State and Ryan Day. is right?
- IMF says Sri Lanka needs to boost reforms and collect more taxes for its bailout funding package
- EPA Rolls Out Training Grants For Environmental Justice Communities
Recommendation
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
CVS responds quickly after pharmacists frustrated with their workload miss work
Rabid otter bites Florida man 41 times while he was feeding birds
Harry Styles and Taylor Russell Give a Sign of the Times With Subtle PDA on London Outing
Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
Russell Brand allegations prompt U.K. police to open sex crimes investigation
'Leave the dog': Police engage in slow-speed chase with man in golf cart to return stolen pet
In conversation with Kerry Washington on her new memoir – Part I