JEFFERSONVILLE, Indiana: On October 30, Canadian Solar announced that it would build a solar panel factory in southeastern Indiana worth US$800 million, employing some 1,200 workers once fully operational.

It will build the new photovoltaic cell factory at the River Ridge Commerce Center in Jeffersonville, an Ohio River city located just north of Louisville, Kentucky, the Guelph, Ontario-based company said.

Canadian Solar added that production should begin by the end of 2025, with the plant producing the equivalent of around 20,000 high-power solar panels per day, and the finished solar cells will be shipped to its module assembly facility in Mesquite, Texas.

Dr. Shawn Qu, founder and CEO of Canadian Solar, said, "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."

It will start hiring for new positions in mid-2024 and ramp up hiring in early 2025 to fully staff the Jeffersonville plant, Canadian Solar further said.

In a statement, Indiana Governor Eric Holcomb said that the new solar panel plant 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."

The company can access up to $9.7 million in tax credits and up to $400,000 in conditional training grants, among other incentives, from the Indiana Economic Development Corporation, which it can claim once investments are made and employees are hired and trained.