Canadian Solar Inc. revealed plans to construct a 5 GW annual production capacity solar photovoltaic (PV) cell manufacturing factory in Indiana. Reportedly, the $800 million facility will be set in Jeffersonville’s River Ridge Commerce Center and will manufacture solar cells for the company’s module assembly plant in Mesquite, Texas.
Furthermore, the new factory, which is planned to be ready by the end of 2025, will be equipped with producing enough solar cells to create 20,000 modules each day. It is projected that more than 150 engineers will work at the new site.
In June 2022, Canadian Solar agreed to sell its 70 per cent stake in Brazil’s Marangatu and Panati-Sitiá solar farms to SPIC Brasil for an undisclosed sum. The two solar projects will have a combined generating capacity of 738 MW and will cover a land area of 2,200 hectares.
REGlobal’s Views: Many manufactures have been ramping up their production facilities across the US. The push for domestically-sourced solar power components in the face of increasing energy security concerns has led local manufacturers to plan extensive capacity expansion. The passage of the landmark Inflation Reduction Act with its attractive tax credits has led to a large number of investments in the solar module manufacturing space. Increasing geopolitical concerns, trade barriers and supply chain considerations have prompted many foreign players to set up manufacturing bases in the lucrative US market.