Gov. Holcomb Announces Canadian Solar Building New $800M Solar Cell Manufacturing Facility In Southeast Indiana

JEFFERSONVILLE, Ind. October 30, 2023– Governor Eric Holcomb today announced plans for a new solar photovoltaic (PV) cell production facility in Indiana. Canadian Solar’s new plant, which will be the company’s second solar module production facility in the U.S., will create approximately 1,200 new jobs in Jeffersonville over the next several years.

“Indiana’s strong advanced manufacturing sector positions the state to help lead the global energy transition, developing and powering new solutions in batteries, solar and hydrogen,” said Gov. Holcomb. “Canadian Solar’s new U.S. location in Jeffersonville will put our skilled Hoosier workforce at the center of cultivating solar power, making energy efficient panels more accessible to consumers across the country.”

Canadian Solar, an integrated provider of solar power products, services and system solutions, will invest a projected $800 million to construct and equip a state-of-the-art PV cell manufacturing plant at the River Ridge Commerce Center in Jeffersonville. The new plant will produce an annual output of 5GW – equivalent to approximately 20,000 high-power solar panels per day – and ship the finished cells to the company’s new module assembly facility in Texas, announced earlier this year. Production is expected to begin by the end of 2025.

“Establishing this factory is a key milestone that will enable us to better serve our U.S. customers with the most advanced technology in the industry,” said Dr. Shawn Qu, founder and CEO of Canadian Solar, emphasizing the importance of this new facility. “This is the second of the anticipated long-term investments we expect to make in the U.S. as we think strategically about a sustainable and resilient clean energy supply chain. We thank the state of Indiana, Clark County, and the city of Jeffersonville for their critical support and we look forward to working with them as we grow.”

Canadian Solar plans to begin hiring for new positions in mid-2024 and will ramp up hiring in early 2025 to fully staff the Jeffersonville plant. This facility joins the global manufacturing facilities in Canada, China, Brazil, Vietnam and Thailand.

“The city of Jeffersonville is pleased that Canadian Solar has chosen River Ridge Commerce Center as home for their newest critical production facility in the United States,” said Jeffersonville Mayor Mike Moore. “Not only are they making a large financial investment into our community, but they will also become one of the largest single-site employers in the Greater Louisville region. When in full production, their total employment base will include over 150 engineers at this facility. We are thrilled to see a global industry leader join our community and provide a product with enormous potential.”

“This is a historic investment in River Ridge and Southern Indiana,” said Jerry Acy, executive director of the River Ridge Development Authority. “The technologies of the future are being built right here at River Ridge, I want to thank Dr. Shawn Qu and his team at Canadian Solar for their commitment to our region. We look forward to a successful partnership that will launch the next generation of solar power.”

Based on the company’s job creation plans, the Indiana Economic Development Corporation committed an investment in Canadian Solar of up to $9.7 million in the form of conditional tax credits and up to $400,000 in conditional training grants. The IEDC also committed an investment of up to $2 million in conditional redevelopment tax credits based on the company’s investment plans and up to $200,000 in Manufacturing Readiness Grants. These incentives are performance-based, meaning the company is eligible to claim state benefits once investments are made and employees are hired and trained. The City of Jeffersonville and the River Ridge Development Authority offered additional incentives.

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About Canadian Solar Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 22 years, Canadian Solar has successfully delivered around 88 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected around 8.8 GWp in over 20 countries across the world. Currently, the Company has approximately 574 MWp of projects in operation, 6.7 GWp of projects under construction or in backlog (late-stage), and an additional 18 GWp of projects in advanced and early-stage pipeline. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com