Canadian Solar Invests Over $800M In Indiana, Plans For 1,200 High-Tech Jobs By 2025
Canadian Solar Inc.
Canadian Solar Inc (NASDAQ:CSIQ) disclosed establishing a 5 GW Solar photovoltaic cell production facility at the River Ridge Commerce Center in Jeffersonville, Indiana.
The company announced an investment of over $800 million, creating around 1,200 skilled high-tech jobs once production is fully ramped up.
CSIQ expects an annual output of 5 GW, equivalent to around 20,000 high-power modules daily.
The company plans to use produced solar cells at this facility at the previously announced 5 GW module assembly plant in Mesquite, Texas, with production expected to begin by the end of 2025.
Thomas Koerner, Senior Vice President, said, "This is the second of the anticipated long-term investments we expect to make in the U.S. as we think strategically about a local, sustainable and clean energy supply chain and to fulfill the long-term requirements of the local-content rules of the recently established IRA."
Last week, CSIQ disclosed that e-STORAGE, which is part of its majority-owned subsidiary CSI Solar Co., Ltd, won a supply and integration contract for 1 GWh DC of energy storage solutions for DEPCOM Power, Inc. and Tucson Electric Power (TEP) in Arizona.
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Price Action: CSIQ shares are trading higher by 0.49% at $19.31 on the last check Monday.