PVTIME – On 8 August 2024, the Department of Energy’s (DOE) Loan Programs Office (LPO) announced a conditional commitment to provide a loan guarantee of up to $1.45 billion for South Korean solar manufacturer Qcell’s solar product manufacturing facility in Cartersville, Georgia, US.
The loan guarantee is being offered through LPO’s Title 17 Clean Energy Financing Program, which provides financing opportunities for innovative energy and supply chain projects, as well as projects that reinvest in existing energy infrastructure. As part of the Biden Administration’s initiative to reinforce the domestic manufacturing supply chain for renewable energy deployment, Qcell’s new facility will contribute to the production of essential components for the solar supply chain within the US. The facility will be the largest silicon and wafer plant ever built in the US, which will support an annual production capacity of 3.3GW of modules for both distributed and utility-scale installations. This will provide approximately half a million US homes with clean electricity.
Approximately 1,200 jobs will be created during the construction phase, with approximately 1,950 full-time operational positions created upon completion. Furthermore, an economic study conducted by the Cartersville-Bartow County Department of Economic Development estimates that the investment will create nearly 6,800 jobs in Bartow and Whitfield counties, with a potential sales output of over $2 billion.
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