Current:Home > InvestJohnathan Walker:$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish -WealthMindset Learning
Johnathan Walker:$1.1 billion solar panel manufacturing facility planned for Louisiana’s Iberia Parish
Ethermac View
Date:2025-04-07 09:09:56
BATON ROUGE,Johnathan Walker 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! (663)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Football fans: You're the reason NFL officiating is so horrible. Own it.
- Dolly Parton reveals hilarious reason she refuses to learn how to text
- Tina Knowles Addresses Claim Beyoncé Bleached Her Skin for Renaissance Premiere
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Ex-South Carolina lawyer Alex Murdaugh sentenced to 27 years for financial, drug crimes
- WWE Hall of Famer Tammy ‘Sunny’ Sytch sentenced to 17 years in prison for fatal DUI crash
- Mayo Clinic announces $5 billion expansion of Minnesota campus
- Retirement planning: 3 crucial moves everyone should make before 2025
- Where is parking most expensive? New study shows cheapest, priciest US cities to park in
Ranking
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- How to turn off iPhone's new NameDrop feature, the iOS 17 function authorities are warning about
- Antonio Gates, Julius Peppers among semifinalists for 2024 Pro Football Hall of Fame class
- US life expectancy rose last year, but it remains below its pre-pandemic level
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- The death of a Florida official at Ron DeSantis' office went undetected for 24 minutes
- Geological hazards lurking below Yellowstone National Park, data show
- Trump embraces the Jan. 6 rioters on the trail. In court, his lawyers hope to distance him from them
Recommendation
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Connecticut lawmakers seek compromise on switch to all-electric cars, after ambitious plan scrapped
U.S. life expectancy starts to recover after sharp pandemic decline
Chicago Blackhawks move to cut veteran Corey Perry for engaging in 'unacceptable' conduct
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
Cleveland Resilience Projects Could Boost Communities’ Access to Water and Green Spaces
Busch Gardens sinkhole spills millions of gallons of wastewater, environmental agency says
Tiffany Haddish arrested on suspicion of DUI in Beverly Hills