Ohio awards $15 million to Isofoton

Isofoton North America will receive three loans from the State of Ohio, totalling $15 million, to develop a new solar panel manufacturing plant in Napoleon.

Isofoton North America will receive three loans from the State of Ohio, totalling $15 million, to develop a new solar panel manufacturing plant in Napoleon.

In July, the Spanish solar panel manufacturer announced its plans to invest $31.2 million in its first plant in the US.  In response to the commitment by Isofoton, The Ohio Financing Advisory Council and the Ohio Air Quality Development Agency both approved three loans, stimulating job creation in the energy sector.  Additionally, the Ohio Development Department declared its desire to support Isofoton with additional credits and incentives totalling another $15.8 million. The Napoleon project will create over 300 jobs over the next three years. Ángel Luis Serrano, ISOFOTON CEO, stated that “thanks to this backing we expect operations to begin at the start of next year .”

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