First Solar investing $680M to build third Toledo-area factory

Solar panel manufacturer First Solar Inc. will invest $680 million “to build a third factory in the Toledo area by 2023, doubling its production capacity and creating 500 jobs,” The Toledo Blade reports. Construction of the new, 1.8-million-square-foot plant will begin later this year, with production expected to begin in early 2023, according to the article. The company’s current operations in Wood County “have the capacity to produce 2.7 gigawatts worth of panels annually,” and the new plant will add another 3.3 gigawatts to that. Total U.S. solar-panel production capacity “is expected to reach 11 gigawatts” when the new First Solar plant is online. Construction “is contingent on First Solar receiving permitting and pending approval of State of Ohio, JobsOhio, regional and local incentives.” For more, read the full article

Economic Development, Financial Incentives, Renewable Energy, Solar, State Updates