-1.5 C
London
Saturday, December 10, 2022
Banner
Filtraglass
Banner

California loans boost solar production and jobs

Four solar photovoltaic manufacturers based in California have been awarded USD 13.4 million in low-interest loans. The funds, from federal stimulus money, will go to Morgan Solar, Inc., Solar Power, …

Four solar photovoltaic manufacturers based in California have been awarded USD 13.4 million in low-interest loans. The funds, from federal stimulus money, will go to Morgan Solar, Inc., Solar Power, Inc., Quantum Fuel Systems Technologies Worldwide, Inc., and the Solaria Corporation. They will support purchase of new manufacturing equipment, to be paid during the course of seven years following installation of the equipment. California“s leadership in clean energy technology is supported by these manufacturers who are investing millions to develop and produce advanced energy products, said Governor Schwarzenegger. In these challenging fiscal times, access to capital from this programme is essential to helping California“s manufacturers retool for a competitive green economy. I commend these innovative companies for the work they are doing in advancing clean energy technology and creating jobs for Californians. Solar Power, Inc. will receive USD 5 million for equipment including cell sorters and stringing machines to produce photovoltaic solar panels at a new USD 25 million manufacturing facility. The facility will have a production capacity of 50 megawatts per year and is expected to be completed in January 2011, creating or retaining 698 full-time jobs. The Roseville-based solar manufacturer is also providing an estimated USD 19.9 million in leveraged funds to build the facility. Quantum Fuel Systems Technologies Worldwide, Inc., will use its USD 4,356,500 loan to purchase equipment such as glass washers and vacuum laminators to increase the manufacturing capacity of its photovoltaic solar module facility in Irvine, CA. It will expand the plant“s PV capacity to 45 megawatts annually and should be completed by March 2011. According to the Commission, the USD 15 million project will create and/or retain around 94 full-time equivalent jobs at a cost of USD 46,346 of federal funds per job. Concentrated photovoltaic solar producer Morgan Solar is moving its existing Canadian manufacturing facility to Chula Vista, California. It will receive equipment worth USD 3,305,000 that includes assembly and injection moulding machines, for a facility with an annual capacity of 10 megawatts that should be operational by November 2011. Expectations are for the USD 6.6 million project to create or retain 105 fill-time jobs. The Solaria Corporation was awarded a USD 753,992 loan for glass scanners and module testers for its PV solar panel manufacturing facility, expected to be operational in autumn 2010, which will increase the capacity of the facility to an annual 6 megawatts, creating 79 jobs.

Related news
- Advertisement -spot_img