Publication Date:
Fri, 2011-10-14 11:39
The company, which had announced in April it would build the factory, said Thursday it had selected Aurora, Colorado, a suburb east of Denver, for the location.
The factory will have an annual capacity of 400 megawatts, enough to supply electricity to about 80,000 homes.
GE is entering the solar business at a brutal time for makers of solar panels. Solar installations are growing fast, but panel prices are falling precipitously.
This has led to the bankruptcies of three solar panel makers in the last two months, including Solyndra, a panel maker that collapsed despite receiving a $535 million loan guarantee from the federal government.
GE says the factory will employ 355 people in Colorado.
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