Current:Home > Finance$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish -Mastery Money Tools
$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
View
Date:2025-04-12 21:34:56
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! (9)
Related
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- Settlement reached in lawsuit over cop pepper-spraying Black, Latino soldier in 2020 traffic stop
- Germany pulled off the biggest upset of its basketball existence. Hardly anyone seemed to notice
- Idaho college killings prosecutors want to limit cameras in court
- Trump invites nearly all federal workers to quit now, get paid through September
- Baltimore school police officer indicted on overtime fraud charges
- Eagles pay tribute to Jimmy Buffett at final tour kickoff: 'Sailing on that cosmic ocean'
- Rail operator fined 6.7 million pounds in Scottish train crash that killed 3
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- Kroger agrees to pay up to $1.4 billion to settle opioid lawsuits
Ranking
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- Coco Gauff navigates delay created by environmental protestors, reaches US Open final
- OSU, WSU ask court to prevent departing Pac-12 schools from standing in way of rebuilding conference
- EU rebukes its representative in Austria over ‘blood money’ comment on Russian gas imports
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Japan launches its Moon Sniper as it hopes for a lunar landing
- What's Making Us Happy: A guide to your weekend viewing and listening
- Trump's trial in New York AG's $250M lawsuit expected to take almost 3 months
Recommendation
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
UK police call in bomb squad to check ‘suspicious vehicle’ near Channel Tunnel
Maker of the spicy 'One Chip Challenge' pulls product from store shelves
One Chip Challenge maker Paqui pulls product from store shelves after teen's death in Massachusetts
A South Texas lawmaker’s 15
'The Changeling' review: Apple TV+ fantasy mines parental anxiety in standout horror fable
Country Singer Zach Bryan Apologizes After Being Arrested in Oklahoma
Why Olivia Rodrigo Fans Think Her Song The Grudge Is About an Alleged Feud With Taylor Swift