FREMONT, USA: Solyndra Inc. commenced construction of its second solar panel manufacturing plant (Fab 2).
Located near its current manufacturing facility in Fremont, California, Fab 2 is designed to produce 500 megawatts per year. The new facility will enable Solyndra to fulfill its announced contractual backlog of over $2 billion and create additional jobs. Solyndra's two Fabs will produce enough solar panels over their lifetime to cut over 350 million metric tons of CO2 emissions or 850 million barrels of oil.
“The economy needs clean tech alternatives to help it recover, but our planet requires clean tech solutions in order to survive,” said Solyndra CEO and founder, Dr. Chris Gronet.
“Fab 2 will allow us to meet customer demand while making a positive impact on the world’s energy and environmental needs. We are grateful for the vision and support of President Barack Obama, the US Department of Energy, the US Congress, and our investors.”
The first phase of Fab 2 is being financed by public and private sources. Solyndra is the first company to receive a loan guaranteed by the US Department of Energy under Title XVII of the Energy Policy Act of 2005.
The $535 million loan from the US Treasury, combined with $198 million from an equity financing round led by Argonaut Private Equity, provide the capital required for the project. Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with the DOE loan guarantee.
Solyndra estimates that the construction of Fab 2 will employ over 3,000 people, the ongoing operation of the facility will create over 1,000 jobs, and that installation of Solyndra PV systems will generate hundreds of additional jobs.
Showing posts with label solar plant. Show all posts
Showing posts with label solar plant. Show all posts
Saturday, September 5, 2009
Monday, July 27, 2009
EDF Energies Nouvelles, First Solar to build France's largest solar plant
PARIS, FRANCE: EDF Energies Nouvelles (EDF EN) and First Solar Inc. announced a venture to build France’s largest solar panel manufacturing plant. With an initial annual capacity of more than 100MWp, the plant will produce solar panels made with First Solar’s advanced, thin-film photovoltaic technology.
This new venture will support the recently announced goal of the French government to become a leader in sustainable energy technologies including solar electricity. At full production, projected for the second half of 2011, the plant will employ more than 300 people.
Under the terms of the arrangement, First Solar will build and operate the plant in France. The plant represents an expected investment of more than €90 million. The initial annualized capacity of the plant is expected to exceed 100MWp, making it the largest manufacturing facility for solar panels in France. EDF Energies Nouvelles has agreed to finance half of the capital expense and plant start-up costs and will benefit from the plant’s entire output for the first 10 years. First Solar and EDF EN intend to announce their decision on the site location within the next few months.
The investment decision was announced in the presence of French Sustainable Development Minister Jean-Louis Borloo. “I salute the decision of EDF Energies Nouvelles and First Solar to invest and create jobs in France’s solar sector, which has begun to take off since the Grenelle de l’Environnement,” he said. “This investment represents a veritable turning point for the photovoltaic industry and confirms that France is more than ever in a position to play a leading role globally.”
Pâris Mouratoglou, Chairman of the Board of EDF Energies Nouvelles, said: “This agreement represents a key milestone in the strategy of our group, which has the ambition to be a global leader in solar energy.” The company successfully raised €500 million last year to finance its expansion in the photovoltaic sector. It has set itself a target of installing 500MWp in photovoltaic capacity for its own account by 2012. “Securing a competitive supply is essential for us to participate in the development of a large French solar market,” he said.
“We have successfully built a number of projects with First Solar panels. This strategic agreement is the result of a relationship built on trust and offers our two groups solid and promising potential,” he said.
Mike Ahearn, Chairman and CEO of First Solar, said: “The decision to invest in France reflects our firm belief in the French market and its great potential. It represents a vote of confidence in the policies being developed by the French government since the Grenelle de l’Environnement to promote renewable energies and allow solar electricity to compete economically with other forms of energy.”
“This decision by First Solar and EDF EN is a sign of our shared commitment to the future of solar electricity,” Mr. Ahearn said. “We commend President Nicolas Sarkozy’s leadership in promoting long-term policies to build a more sustainable energy future not just for France but the world. Countries that create market frameworks that enable solar and other renewable energies to achieve commercial scale will reap the greatest benefits in private sector investment, technological innovation and job creation.” The long-term commitments of the French Government to provide the policy and regulatory frameworks that enable robust solar markets and of EDF EN to invest in developing and expanding the French market were key factors in our decision to invest in France, he said.
First Solar’s manufacturing site will also include a facility for recycling solar panels, France’s first such facility and Europe’s only solar panel recycling plant outside of Germany.
This new venture will support the recently announced goal of the French government to become a leader in sustainable energy technologies including solar electricity. At full production, projected for the second half of 2011, the plant will employ more than 300 people.
Under the terms of the arrangement, First Solar will build and operate the plant in France. The plant represents an expected investment of more than €90 million. The initial annualized capacity of the plant is expected to exceed 100MWp, making it the largest manufacturing facility for solar panels in France. EDF Energies Nouvelles has agreed to finance half of the capital expense and plant start-up costs and will benefit from the plant’s entire output for the first 10 years. First Solar and EDF EN intend to announce their decision on the site location within the next few months.
The investment decision was announced in the presence of French Sustainable Development Minister Jean-Louis Borloo. “I salute the decision of EDF Energies Nouvelles and First Solar to invest and create jobs in France’s solar sector, which has begun to take off since the Grenelle de l’Environnement,” he said. “This investment represents a veritable turning point for the photovoltaic industry and confirms that France is more than ever in a position to play a leading role globally.”
Pâris Mouratoglou, Chairman of the Board of EDF Energies Nouvelles, said: “This agreement represents a key milestone in the strategy of our group, which has the ambition to be a global leader in solar energy.” The company successfully raised €500 million last year to finance its expansion in the photovoltaic sector. It has set itself a target of installing 500MWp in photovoltaic capacity for its own account by 2012. “Securing a competitive supply is essential for us to participate in the development of a large French solar market,” he said.
“We have successfully built a number of projects with First Solar panels. This strategic agreement is the result of a relationship built on trust and offers our two groups solid and promising potential,” he said.
Mike Ahearn, Chairman and CEO of First Solar, said: “The decision to invest in France reflects our firm belief in the French market and its great potential. It represents a vote of confidence in the policies being developed by the French government since the Grenelle de l’Environnement to promote renewable energies and allow solar electricity to compete economically with other forms of energy.”
“This decision by First Solar and EDF EN is a sign of our shared commitment to the future of solar electricity,” Mr. Ahearn said. “We commend President Nicolas Sarkozy’s leadership in promoting long-term policies to build a more sustainable energy future not just for France but the world. Countries that create market frameworks that enable solar and other renewable energies to achieve commercial scale will reap the greatest benefits in private sector investment, technological innovation and job creation.” The long-term commitments of the French Government to provide the policy and regulatory frameworks that enable robust solar markets and of EDF EN to invest in developing and expanding the French market were key factors in our decision to invest in France, he said.
First Solar’s manufacturing site will also include a facility for recycling solar panels, France’s first such facility and Europe’s only solar panel recycling plant outside of Germany.
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