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Maxeon Solar To Start Manufacturing In New Mexico And Is Awaiting Federal Loan

Maxeon Solar To Start Manufacturing In New Mexico And Is Awaiting Federal Loan

Singapore solar company plans major US manufacturing plant in New Mexico, pending federal loan

Maxeon Solar Technologies, a Singapore-based solar firm, is planning to build a mega solar panel manufacturing facility in Albuquerque. However, the company announced on Thursday that the US Department of Energy is yet to approve its loan application.

The company stated that the new solar panel manufacturing facility would be larger than any existing facility in the United States. As per sources, the new solar panel factory would provide employment to 1800 people to build PV Solar Panels for regular use in residential, commercial, and utility-scale solar arrays.

Maxeon’s proposed solar panel manufacturing plant in Albuquerque would consist of solar-cell fabrication, panel assembly, administrative offices, and warehouse facilities. Furthermore, according to the Solar Energy Industries Association, in the first three months of 2023, about six gigawatts of solar panels were installed nationwide.

The proposed solar panel manufacturing plant, according to Maxeon’s CEO Bill Mulligan, is

an ambitious and concrete response to the need to decarbonize the U.S. economy while creating permanent highly-skilled local manufacturing and engineering jobs.

Maxeon also added that the plant should be equipped enough to produce as many solar panels each year, with the help of which they can generate three gigawatts of electric power. According to a representative of the company, that power is enough to provide full electricity to 460,000 average homes in the US. For the construction of the facility, the company said that it would invest $1 billion.

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Michelle Lujan Grisham, the governor of New Mexico, held that the new solar panel manufacturing plant is an outgrowth of public investments in clean energy infrastructure. The public investments come under the US Inflation Reduction Act 2022 and various other related state programs.

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