First Solar: Plans to invest US$700 million to build 3.3GW module factory in India

Recently, First Solar announced that it will invest US$700 million to build a component factory in India. This will become India's "first" fully vertically integrated solar manufacturing factory and the company's sixth factory operating globally.

The factory is located in Tamil Nadu, India, with an annual production capacity of 3.3GW, directly employs about 1,000 employees, and will produce First Solar's latest Series 7 thin film cadmium telluride modules.

First Solar claims that the carbon and water footprint of modules produced at the manufacturing plant is only one-quarter compared to crystalline silicon solar panels produced by Chinese companies. Recently, First Solar signed a solar and wind energy offtake contract with Cleantech Solar to supply power to factories in Tamil Nadu.

It is worth mentioning that First Solar has factories in the United States, Malaysia, and Vietnam. Since 2020, First Solar has invested US$4.1 billion in expansion, increasing its operating capacity from 6GW to 16GW by the end of 2023, and is expected to Achieving a production capacity of 26GW in 2026.

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