Ohio Backs First Solar Expansion Efforts

Solar photovoltaic (PV) company First Solar, has received US$5 million of funding from the State of Ohio. Proceeds, in the form of a low interest loan, will be applied to the expansion project underway to increase manufacturing capacity fourfold – from 6 Megawatts (MW) in 2004 to 25MW in 2005.

Perrysburg, Ohio, March 12, 2004 [SolarAccess.com] “First Solar’s expansion of its solar module production will create new technology jobs for Ohio and move our nation closer to achieving economically viable renewable energy.” said Governor Bob Taft. “The state’s partnership with First Solar is a win-win for jobs, the economy and the environment.” First Solar has earmarked the loan proceeds to purchase machinery and equipment that will help the company achieve high-volume, low-cost manufacturing capabilities and improve production processes. The plant expansion is scheduled for completion in late 2004. “We appreciate the vote of confidence the State of Ohio loan represents,” said Chip Hambro, Vice President and General Manager of First Solar, “and we are committed to meeting the increased demand for our products with the investment in our new sate-of-the-art production facility.”
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