Canadian Solar to Set Up 5 GW Cell Production Facility in the US

Production at the plant is expected to begin by the end of 2025

October 30, 2023


Solar module manufacturer Canadian Solar has announced it is setting up a 5 GW solar photovoltaic cell production facility in Jeffersonville, Indiana in the United States with an investment of $800 million.

Production at the Jeffersonville facility is expected to begin by the end of 2025. The solar cells produced at this facility will be used at the previously announced 5 GW module assembly plant in Mesquite, Texas.

Thomas Koerner, Senior Vice President of Canadian Solar, said, “Establishing this factory is a key milestone that will enable us to better serve our U.S. customers with the most advanced technology in the industry. 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.”

“Indiana’s strong advanced manufacturing sector positions the state to help lead the global energy transition, developing and powering new solutions in batteries, solar and hydrogen,” said Governor Eric Holcomb. ”

Canadian Solar is among the leading manufacturers of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects.

Currently, the company has approximately 700 MW of solar power projects in operation, 8 GW of projects under construction or in backlog, and an additional 17 GW of projects in advanced and early-stage pipeline. It also has a total battery storage project development pipeline of 52 GWh, including approximately 2 GWh under construction or in backlog, and an additional 50 GWh at advanced and early-stage development.

Canadian Solar’s net income surged 130% year-over-year to $170 million for the second quarter of the financial year 2023, driven by increased module shipments and improved margins. The company’s engineering, procurement, and construction subsidiary CSI Solar shipped 8.2 GW of solar modules to over 70 countries during the quarter, a 62% rise over the same period in 2022.