India's Swelect to build PV panel factory in N Carolina
Source: North Carolina Office of the Governor. License: All Rights Reserved.
Indian company Swelect Energy Systems Ltd (BOM:532051) will make photovoltaic (PV) panels in North Carolina, governor Pat McCrory announced on Friday.
The solar equipment manufacturer plans to create 155 jobs in Halifax County over the next five years. It will invest over USD 4.7 million (EUR 4.1 million) in a manufacturing facility and an adjacent solar farm, according to the announcement.
Swelect will be looking to hire operators, quality control specialists, logistics personnel and others, with annual salaries to average at least USD 30,419, in line with current average pay in Halifax County.
The project has been facilitated by a performance-based grant of up to USD 600,000 from the One North Carolina Fund. In order to receive the funds, the company should meet job creation and investment targets. The One NC Fund grants are contingent on financial matches by local governments.