First Solar unveils plan for 3.3-GW module factory in India

First Solar Inc (NASDAQ:FSLR) on Thursday announced plans to build a 3.3-GW DC thin-film solar module factory in India that will enable it to lift its global nameplate manufacturing facility to 16 GW DC in 2024.

The US company intends to pour some USD 684 million (EUR 575.8m) in the new project, which is still subject to permitting and approval of Indian government incentives. It will be built in the state of Tamil Nadu using the advanced manufacturing template that was established for a project of the same size in Ohio.

The Indian site is expected to become operational in the second half of 2023.

Commenting on the Indian market, CEO Mark Widmar highlighted India’s attractiveness in the light of its 25-GW solar target for the next nine years and the state subsidies for the crystalline silicon solar supply chain. “Crucially, it has combined its clean energy targets with effective trade and industrial policy designed to enable self-sufficient domestic manufacturing and true energy security,” he stated.

First Solar produces thin-film photovoltaic (PV) modules in a fully integrated process that uses its proprietary Cadmium Telluride (CadTel) semiconductor technology without being dependent on Chinese c-Si supply chains. The company has manufacturing bases in the US, Vietnam and Malaysia.

(USD 1.0 = EUR 0.842)

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