Leading US solar PV modules manufacturer First Solar will be adding another fab to its fleet of cadmium telluride (CdTe) thin-film production centers in the US with an annual capacity of 3.5 GW at an undisclosed location. It will take the company's total nameplate manufacturing capacity to approximately 25 GW by 2026.
In the US alone, its nameplate capacity will reach 14 GW once the new fully vertically integrated facility comes online by H1/2026.
Currently, the company operates 6.3 GW capacity in the US. Since last year, it has announced over $2.8 billion for 7.9 GW additional capacity within the country including a 3.5 GW factory in Alabama and 900 MW expansion of its Ohio fab. A 3.4 GW DC fab in India is in the works as well.
First Solar said its decision to expand further follows its backlog of around 78 GW. In July 2023 alone, the manufacturer signed deals for around 10.5 GW capacity with Matrix, Energix, Capital Power, TVA and Matrix Renewables.
The $1.1 billion fab will expand the production of First Solar's Series 7 modules that the management expects to manufacture with 100% US-made components as identified by the US Department of Treasury. Once online, Series 7 will account for over 2/3rds of the manufacturer's annual domestic nameplate capacity.
Recently, the company raised $1 billion revolving credit facility to manage its growth plans (see US' First Solar Raises Fresh Finance).
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