South Korea headquartered OCI Company Ltd will provide polysilicon to help its US based solar module manufacturing company Mission Solar to expand its existing annual capacity to 1 GW in 2024, starting with 300 MW in Q4/2022, all thanks to the Inflation Reduction Act (IRA) promising financial incentives for Made in America PV products.
Based out of Texas, Mission Solar has now been operating for 10 years from a 246,000 sq. ft facility. The increase in capacity is directly related to its 'sourcing strategy' to procure polysilicon from its South Korean parent rather than from market leader China. Any goods mined, produced, manufactured even partly in China's Xinjiang have been banned from entering the US under Uyghur Forced Labor Prevention Act (UFLPA) (see UFLPA Comes Into Force In The US).
"The recent passage of the Inflation Reduction Act includes incentives for expansion that the company plans to convert into more manufacturing and support jobs," said President and CEO of Mission Solar Energy Jae Yang.
Mission Solar joins several other module makers in the US that are now either expanding their capacity or entering the domain (see Toledo Solar To Expand US Manufacturing Capacity and New N-Type TOPCon Solar Module Fab In Texas, US).
Under the IRA, US based solar PV manufacturers along the value chain will avail production incentives till 2033 (see Inflation Reduction Act 2022 Now A Law).