Investment and Conjin88bet.onestruction Plans
Norwegian ingot and wafer manufacturer NorSun has unveiled plansak168app.baby to establish a 5GW ingot and wafer manufacturing plant in Tulsa, Oklahoma, US. Construction of the new facility is slated to commence in late 2024, with production exak168app.clubpected to begin in 2026. NorSun plans to invest $620 million in this venture, selecting a shovel-ready site that spans approximately 60ks168app.site acres.
Meeting Domestic Demand
The new Tulsa plant aims to address the growing deic88mand for ingot and wafer capacity from US cell and module manufacturers. NorSun emphasized the importance of this domestic production to bolstic88er the supply chain within the country. Additionally, the facility has the potential for future expansion, wic88ith plans to scale its annual manufacturing capacity to 10GW.
“Oklaic88homa impressed us even before our selection journey – its robust clealr88n energy, manufacturing ecosystem and workforce development programs were already on our radar, and its competitive business offerings and site acceleration options solidified our lr88decision,” stated Erik Løkke-Øwre, CEO of Nolr88rSun.
Strategic Expansion Amid Market Challenges
In August 2023, NorSun secured NOK90 million ($8.5 mlr88illion) in equity financing to support its expansion efforts in both Europe and the US. This funding paved the way for finalizing plans for thop88e US facility and potential expansions in Årdal, Norway, and othsi88er European locations. However, NorSun faced significant challenges a month later, deciding to halt production temporarily and lay off employees due to an influx of low-priced Chinese solar modules. The 88vrerouting of these modules to Europe, prompted by US import restrictions, led to a substantialSEXXXXX-VN inventory build-up in the region.
