Current:Home > Finance$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish-LoTradeCoin
$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
View Date:2025-01-11 13:47:33
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! (6237)
Related
- Ariana Grande Shares Dad's Emotional Reaction to Using His Last Name in Wicked Credits
- TikTok star now charged with murder in therapists' death: 'A violent physical altercation'
- Mandy Moore, choreographer of Eras Tour, helps revamp Vegas show
- Soccer Star George Baldock Found Dead in Swimming Pool at 31
- Voters in Oakland oust Mayor Sheng Thao just 2 years into her term
- Mandy Moore, choreographer of Eras Tour, helps revamp Vegas show
- The Daily Money: Revisiting California's $20 minimum wage
- Last Chance for Prime Day 2024: The Top 26 Last-Minute Deals You Should Add to Your Cart Now
- NASCAR Championship race live updates, how to watch: Cup title on the line at Phoenix
- Lionel Messi, Argentina national team leave Miami ahead of Hurricane Milton
Ranking
- Prosecutor failed to show that Musk’s $1M-a-day sweepstakes was an illegal lottery, judge says
- JoJo Siwa Seemingly Plays Into Beyoncé & Sean Diddy Combs Conspiracy Theory With Award Show Shoutout
- Professional Climber Michael Gardner Dead at 32 in Nepal
- Last Chance for Prime Day 2024: The Top 26 Last-Minute Deals You Should Add to Your Cart Now
- NASCAR Hall of Fame driver Bobby Allison dies at 86
- Harris faces new urgency to explain how her potential presidency would be different from Biden’s
- Florida races to clean up after Helene before Hurricane Milton turns debris deadly
- Taylor Swift Donates $5 Million to Hurricane Milton and Hurricane Helene Victims
Recommendation
-
Dwayne 'The Rock' Johnson weighs in on report that he would 'pee in a bottle' on set
-
Lisa Marie Presley Shares She Had Abortion While Dating Danny Keough Before Having Daughter Riley Keough
-
Fantasy football Start ‘Em, Sit ‘Em: 16 players to start or sit in Week 6
-
Save $160 on Beats x Kim Kardashian Headphones—Limited Stock for Prime Day
-
2 Florida women charged after shooting death of photographer is livestreamed
-
Fantasy football Start ‘Em, Sit ‘Em: 16 players to start or sit in Week 6
-
Mandy Moore, choreographer of Eras Tour, helps revamp Vegas show
-
Jayden Daniels brushes off Lamar Jackson comparisons: 'We're two different players'