First Solar to build a new 1.2 gigawatt solar panel factory in Ohio

First Solar, Inc. is an American manufacturer of solar panels, and a provider of utility-scale PV power plants and supporting services that include finance, construction, maintenance and end-of-life panel recycling.

First Solar has announced plans to build a 1.2-GW solar module factory in Lake Township, Ohio, envisaging a capital investment of USD $400 million.

Creating about 500 new jobs, the company said the plant will be located in proximity to its Perrysburg site, having a production capacity of 600 MW, and will manufacture it’s Series 6 modules.

First Solar expects to start construction mid-2018, with the goal to reach full production in late 2019.

The solar cell manufacturer reported $0.78 earnings per share and a revenue of $567.00 million during for Q1. During the same period last year, First Solar earned $0.25 EPS.

The Ohio expansion will triple the company’s domestic capacity.

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