The U.S. Department of Energy closed its $1.45 billion loan to support Qcells’ supply chain manufacturing facility in Cartersville, Georgia. The Loan Programs Office (LPO) first announced the loan in August.
The LPO provides financing for large-scale, high-impact energy infrastructure projects in the United States. Qcells is the largest manufacturer of silicon solar panels in the Western Hemisphere and is currently building an all-inclusive solar panel manufacturing facility in Georgia. The site will produce silicon ingots, wafers, cells and finished panels.
Qcells has committed to investing $2.8 billion in the facility. Including its other panel manufacturing facilities in Dalton, Georgia, Qcells will achieve annual panel production of 8.4 GW within the state.
“Since opening its doors in Dalton, Georgia in 2019, Qcells has invested billions of dollars in creating an end-to-end solar supply chain, resulting in thousands of American jobs, progress toward energy independence and lower energy costs,” said Qcells in a statement. “The support of the Dept. of Energy emphasizes the importance of this critical industry and the collective effort needed to ensure that American manufacturers have the opportunity to compete on a global scale and see long-term success.”
In addition to boosting domestic solar energy production and innovation to accelerate America’s clean energy transition, Qcells’ investments will create an estimated 4,000 American jobs. To further stimulate the local economy, almost 50% of construction work has been outsourced to local contractors. The final loan is offered through LPOs Title 17 Clean Energy Financing Programwhich includes financing opportunities for innovative energy and supply chain projects and projects that reinvest in existing energy infrastructure.
