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					</table><p>U.S.-based photovoltaic (PV) module manufacturer <a href="https://investor.firstsolar.com/overview/default.aspx" target="_blank" rel="noopener">First Solar</a> has commissioned a new 1.3 million square feet research and development facility in Lake Township, Ohio.</p>
<p>The Jim Nolan Center for Solar Innovation features a high-tech pilot manufacturing line capable of producing full-sized prototypes of thin film and tandem PV modules. The facility is expected to accelerate innovation cycles by overcoming limitations and constraints faced at the company&#8217;s previous R&amp;D setup.</p>
<p>&#8220;Thin films are the next technological battleground for the solar industry&#8230; We expect that this crucial investment in R&amp;D infrastructure will help maintain our nation&#8217;s strategic advantage in thin film,&#8221; said Mark Widmar, CEO of First Solar.</p>
<p>He said, &#8220;While the United States leads the world in thin film PV, China is racing to close the innovation gap. We expect that this crucial investment in R&amp;D infrastructure will help maintain our nation&#8217;s strategic advantage in thin film, accelerating the cycles of innovation needed to ensure that the next disruptive, transformative solar technology will be American-made.&#8221;</p>
<p>The center is part of a broader $500 million investment in R&amp;D infrastructure by First Solar. The company also plans to commission a perovskite development line at its Perrysburg, Ohio campus later this year.</p>
<p>Coinciding with the center&#8217;s opening, First Solar also announced a new world record for cadmium telluride (CdTe) cell efficiency, achieving 23.1% at its California Technology Center.</p>
<p>First Solar expects to reach over 25 GW of global annual nameplate capacity by 2026, with 14 GW in the U.S. alone. New manufacturing facilities are planned in Alabama and Louisiana.</p>
<p>The company&#8217;s thin film modules produced at its facility in Tamil Nadu were recently <a href="https://www.mercomindia.com/first-solars-thin-film-modules-dcr" target="_blank" rel="noopener">approved</a> for projects with a Domestic Content Requirement mandate.</p>
<p>The Tamil Nadu facility, which has an annual nameplate capacity of 3.3 GW, <a href="https://www.mercomindia.com/first-solar-module-manufacturing-facility-in-tamil-nadu/" target="_blank" rel="noopener">focuses</a> on producing First Solar&#8217;s Series 7 solar modules, specifically developed for the Indian market at the company&#8217;s research and development centers in the U.S.</p>
<p>First Solar was among the companies that led solar module manufacturing capacity additions in the calendar year 2023, according to Mercom&#8217;s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard Report 2024</a>.</p>


First Solar Opens Plant for Thin Film and Tandem PV Modules in Ohio

<p><a href="https://doral-llc.com/" target="_blank" rel="noopener">Doral Renewables</a>, a utility-scale renewable energy project developer, closed a construction debt facility for its Great Bend solar project. The company secured $114 million in financing from the sole lender, HSBC, for the project, which consists of a $36 million construction-to-term loan facility, a $57 million tax equity bridge loan, and a $21 million letter of credit facility.</p>
<p>The Great Bend Solar project features a single-axis, ground-mounted PV system having a capacity of 48 MWac. This venture marks Doral&#8217;s inaugural investment in Ohio&#8217;s solar sector. The project will generate energy and renewable energy certificate revenue via a long-term Power Purchase Agreement (PPA) with one of the largest investor-owned utilities in the U.S. Doral expects that the facility will power approximately 9,000 homes once in operation.</p>
<p>Additionally, the Great Bend Solar project is expected to contribute in excess of $400,000 annually in new tax revenue for Meigs County.</p>
<p>&#8220;We are proud to support Doral Renewables with this financing and to have partnered with their world class team, furthering HSBC&#8217;s commitment to financing premier renewables projects,&#8221; said Paul Snow, Head of Renewables, Americas at HSBC. &#8220;This is our inaugural facility with Doral Renewables, complementing HSBC&#8217;s ambition to deliver a net zero global economy,&#8221; said James Gallagher, Head of International Banking USA at HSBC. &#8220;We look forward to enhancing our relationship with Doral in 2024 and beyond.&#8221;</p>
<p>According to Mercom&#8217;s Q4 and Annual Global Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, large-scale project funding deals announced in 2023 came to $44.5 billion in 229 deals, of which 196 were disclosed.</p>
<p>Greenvolt, a solar and wind project developer, recently <a href="https://cms.mercomindia.com/greenvolt-secures-39-million-project-finance/" target="_blank" rel="noopener">signed</a> a €36 million (~$39.34 million) project finance with UniCredit Bank Hungary for the construction, operation, and maintenance of a 57 MW solar project in Hungary. With an annual generation capacity of 87 GWh, is currently under construction, and with the aid of Project Finance, it is anticipated to achieve commercial operation by the end of the first half of 2024.</p>


Doral Renewables Secures $114 Million Debt Financing for Solar Project

<p><a href="https://www.harrisonst.com/" target="_blank" rel="noopener">Harrison Street</a>, an investment management firm, acquired a 28 MW of solar project from Soltage, a solar project developer and independent power producer. The solar project is located in Warren County, Ohio, on land owned by the Cincinnati Zoo in the PJM power market.</p>
<p>The project was originally developed by Melink Solar Development and is fully contracted for ten years with two power purchase agreements. Indiana-based EPC contractor, Inovateus Solar, is building the Project, and a subsidiary of Nelnet, will serve as the tax equity investor for the Project. Christopher Merrill, Harrison Street Co-Founder, Chairman, and Chief Executive Officer, said “As demand for high-quality renewable energy assets continues to rise, we are excited to further build upon our firm’s expertise investing in renewables and other clean energy infrastructure that advances our nation’s evolving sustainability goals.”</p>
<p>“The Cincinnati Zoo &amp; Botanical Garden has been working behind the scenes for over a decade to be able to leverage a portion of our farm property for a significant solar array. We are excited to finally see this dream come to fruition, furthering our commitment to clean, renewable energy. This project is a win for our community, our partners, and our environment,” said Mark Fisher, Vice President at Cincinnati Zoo &amp; Botanical Garden.</p>
<p><a href="https://cms.mercomindia.com/greenbacker-acquires-7-6-mw-net-metering-solar-projects/" target="_blank" rel="noopener">Recently</a>, Greenbacker, a sustainable infrastructure investment firm, acquired 7.6 MW of nine pre-operational solar projects from Norwich Solar. When completed, the projects will lower power bills for local farmers and give new life to brownfield sites restricted from most uses. The projects have long-term Net Metering Agreements with over 30 agricultural off-takers—local farms and dairies across the state.</p>
<p>According to Mercom’s 9M and Q3 2022 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/9m-q3-2022-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, in 9M 2022, there were 207 project acquisitions for 52 GW compared to 200 projects acquired for 55.5 GW in 9M 2021.</p>


Harrison Street Acquires a Solar Project from Soltage


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					</table><p>U.S.-based solar module manufacturer <a href="https://www.firstsolar.com/" target="_blank" rel="noopener">First Solar</a> has announced an investment of $1.2 billion to scale the production of American-made, responsibly-produced photovoltaic (PV) solar modules totaling 4.4 GW, to support the country’s transition to decarbonization until 2025.</p>
<p>The company is set to build its fourth, fully vertically integrated domestic factory, with an annual capacity of 3.5 GW in the southwest U.S. It targets allocating $1 billion to the new factory. The new unit will be operational by 2025.</p>
<p>The company will invest $185 million to upgrade and expand its production footprint in Northwest Ohio, which is deemed the largest vertically integrated complex of its kind in the Western Hemisphere, with a capacity of 0.9 GW.</p>
<p>First Solar started the <a href="https://mercomindia.com/first-solar-begins-construction-module-facility/" target="_blank" rel="noopener">construction</a> of its 3.3 GW module manufacturing factory in Ohio in August 2021, which will be operational by the first half of 2023. The factory would scale the company’s Northwest Ohio footprint to a cumulative annual capacity of 6 GW.</p>
<p>The company said it would also invest in expanding the capacity of its two operational facilities in Perrysburg and Lake Township, Ohio, by 0.6 GW to 3.6 GW of annual Series 6 module capacity. The company’s third Ohio factory, likely to be commissioned in the first half of 2023, will have 3.5 GW of annual Series 7 module capacity.</p>
<p>First Solar’s overall investment in its Ohio manufacturing units will reach over $3 billion, with a cumulative annual production capacity of more than 7 GW in the next three years.</p>
<p>First Solar’s CEO Mark Widmar said, “This investment is an important step towards achieving self-sufficiency in solar technology, which, in turn, supports America’s energy security ambitions, its deployment of solar at scale, and its ability to lead with innovation. We are proud of the fact that our manufacturing presence in the U.S. is expected to, directly and indirectly, support over 18,000 jobs across the country by 2025, while our manufacturing investment will add an estimated $3.2 billion in value to the U.S .economy, reflecting the impact of solar manufacturing on our country.”</p>
<p>Apart from Ohio, the U.S.-based module maker operates factories in Vietnam and Malaysia. It is <a href="https://mercomindia.com/first-solar-module-manufacturing-india/" target="_blank" rel="noopener">building</a> the company’s first manufacturing unit in India, which will begin operations by the second half of the next financial year.</p>


First Solar to Invest $1.2 Billion to Scale Production of US-Made Solar PV Modules

<p>U.S.-based solar modules manufacturer <a href="https://www.firstsolar.com/" target="_blank" rel="noopener">First Solar</a> has commenced the construction of a 3.3 GW module manufacturing facility in Ohio.</p>
<p>The facility will cost $680 million and is scheduled for operations in the first half of 2023. When fully operational, the facility is expected to scale the company’s Northwest Ohio footprint to a total annual capacity of 6 GWdc.</p>
<p>The facility is likely to create over 700 permanent jobs and 500 construction jobs. First Solar has invested over $2 billion in expanding its Ohio manufacturing presence.</p>
<p>First Solar claims it is unique among the world’s ten largest solar manufacturers for being the only U.S.-headquartered company, which uses Cadmium Telluride semiconductor instead of crystalline silicon semiconductor.</p>
<p>First Solar is expected to produce an anticipated average of one module roughly every 2.75 seconds across its three-factory Ohio footprint once it achieves its full production capacity. The facility is also claimed to combine highly skilled workers with Industry 4.0 architecture, machine-to-machine communication, artificial intelligence, and Internet of Things connectivity to produce a higher degree of automation, precision, and continuous improvement.</p>
<p>“Today, we’re leading the efforts to revitalize American solar manufacturing and secure critical clean energy supply chains because reliable access to competitive, efficient solar panels is essential to our country’s future. Solar panels are the next crude oil, and we cannot be beholden to adversarial nations for our supply,” said Mark Widmar, chief executive officer, First Solar.</p>
<p>“First Solar’s new factory in Ohio is a model of President Biden’s vision for keeping America competitive by investing in clean energy and creating good jobs,” said Secretary of Labor Marty Walsh, who was present at the groundbreaking ceremony.</p>
<p>The 1.8 million square foot facility is expected to produce an enhanced thin-film PV module for the utility-scale solar market in the US, which is anticipated to have higher efficiency and wattage in a larger form factor. Rudolph Libbe, Inc, will construct the new facility.</p>
<p>First Solar recently <a href="https://mercomindia.com/first-solar-module-manufacturing-india/" target="_blank" rel="noopener">announced</a> that it would invest $684 million to set up a new, vertically integrated photovoltaic thin-film solar module manufacturing facility in India.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/mercom-india-solar-market-leaderboard-2021-market-shares-profiles/" target="_blank" rel="noopener">India Solar Market Leaderboard 2021</a>, First Solar has supplied a total of 1.94 GW of solar modules to projects in India to date. India is the second-largest market for the company after North America.</p>


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