Current:Home > Finance$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish -WealthMap Solutions
$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
View
Date:2025-04-18 17:07:13
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! (446)
Related
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Rural hospitals are closing maternity wards. People are seeking options to give birth closer to home
- Inside Deion Sanders' sunglasses deal and how sales exploded this week after criticism
- Iranian authorities detain Mahsa Amini's father on 1-year anniversary of her death
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- $245 million slugger Anthony Rendon questions Angels with update on latest injury
- Week 3 college football winners and losers: Georgia shows grit, Alabama is listless
- Eno Ichikawa, Japanese Kabuki theater actor and innovator, dies at 83
- Military service academies see drop in reported sexual assaults after alarming surge
- Joe Biden defends UAW strike; tells industry they must share record profits
Ranking
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Man charged in pregnant girlfriend’s murder searched online for ‘snapping necks,’ records show
- Pet shelters fill up in hard times. Student loan payments could leave many with hard choices.
- Bill Gate and Ex Melinda Gates Reunite to Celebrate Daughter Phoebe's 21st Birthday
- Average rate on 30
- Twins manager Rocco Baldelli is going on leave to be with his wife for the birth of twins
- An explosion hits an apartment in northern Syria. At least 1 person was killed with others wounded
- EU pledges crackdown on ‘brutal’ migrant smuggling during visit to overwhelmed Italian island
Recommendation
Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
Bernie Taupin says he and Elton John will make more music: Plans afoot to go in the studio very soon
Tori Spelling Reunites With Brian Austin Green at 90s Con Weeks After Hospitalization
Hollywood strikes enter a new phase as daytime shows like Drew Barrymore’s return despite pickets
Former Danish minister for Greenland discusses Trump's push to acquire island
Billy Miller, The Young & the Restless and General Hospital Star, Dead at 43
Atlantic storm Lee delivers high winds and rain before forecasters call off warnings in some areas
Colorado State's Jay Norvell says he was trying to fire up team with remark on Deion Sanders