- NEW YORK: General Electric said it will build a 400 megawatt solar panel factory in the US, in the first phase of its plan to become a global solar power major.
Global demand for photovoltaics, which convert sunlight into electricity, is likely to grow by 75 gigawatts over the next five years, GE said in a statement.
GE said the plant, whose location is yet to be named, would be the largest in the US and will employ 400 people. It will produce enough panels to power 80,000 homes annually.
“Our plan to open a US solar manufacturing facility further demonstrates our confidence in this technology and is just the first phase in a global, multi-gigawatt roadmap,” said Victor Abate, vice president of GE’s renewable energy business.
GE also announced more than 100 megawatts of new commercial agreements for solar thin film products.