First Solar Inc. will construct two new manufacturing facilities that will add nearly 500 megawatts to its annual production capacity in order to address the anticipated strong demand for its advanced thin-film photovoltaic modules.
The four-line manufacturing plants will be built in the United States and Vietnam and will be completed in 2012. Each plant will generate 600 green jobs and will be structured for further expansion in the future.
“These expansions provide proximity to growing United States demand while supporting our roadmap to drive down the cost of clean, sustainable solar electricity. Effective government policies provide long-term visibility and enable sustainable markets,” said Rob Gillette, chief executive of First Solar.
These latest expansion plans follow the company’s prior announcements for capacity additions, which include eight lines in Kulim, Malaysia; four lines in Frankfrut an der Oder, Germany; and two lines in Blanquefort, France.
   |
   |
Earlier this year, First Solar also finished expanding its production plant in Perrysburg, Ohio, which is the company’s center for engineering, research and development. The facility also houses over 1,100 of the company’s more than 1,500 United States-based associates.
These expansions will almost double First Solar’s annual production capacity from 1.4 gigawatts this year to over 2.7 GW by 2012.
The company recently secured seven agreements with key customers in Europe for a 380 MW increase in orders for 2011.
“Our customers continue to expect robust growth in the market for solar electricity in Europe next year. The additional volumes will allow First Solar to continue to scale and contribute to making solar electricity more affordable globally,” said Stephan Hansen, managing director of First Solar’s European sales and customer service organization, in an earlier statement.
Through its 2.2 GW solar project pipeline in North America, First Solar (Nasdaq:FSLR) aims to create more than 1,000 construction jobs. The company earned $2 billion in revenues in the 2009 fiscal year, up from $1.24 billion in 2008.
