U.S.-based First Solar to invest $684 million in Tamil Nadu

Manufacturing facility likely to begin operations in 2023

American solar technology company First Solar has said it will invest $684 million in a new, fully vertically integrated photovoltaic thin film solar module manufacturing facility in Tamil Nadu. The facility is projected to have a capacity of 3.3 gigawatts and will commence operations in the second half of 2023. This is contingent upon pending approval of the Indian government incentives that are satisfactory to First Solar, the company said in a statement. In December 2020, First Solar signed an MOU with the then AIADMK government for investing ₹4,185 crore in a manufacturing facility with a potential for 1,076 jobs. “India is an attractive market for First Solar, and not simply because our module technology is advantaged in its hot, humid climate. It is an inherently sustainable market, underpinned by a growing economy and appetite for energy, with a well-defined goal that will need over 25 GW of solar to be deployed every year for the next nine years,” said Mark Widmar, chief executive officer, First Solar.