First Solar Inaugurates First Phase of South Carolina Production Facility

First Solar, Inc. (Nasdaq: FSLR) (“First Solar” or “the Company”) today inaugurated the first phase of its new facility in Gaffney, Cherokee County, South Carolina, which onshores final production processes for the Company’s Series 6 Plus modules initiated by the Company’s international fleet. The second phase is forecast to be completed by mid-2027, at which time the approximately $330 million facility is expected to double its annual nameplate capacity to 3.4 gigawatts (GW) and produce the Company’s CuRe technology, while supporting nearly 700 jobs. Approximately 500 of those jobs have already been filled.

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South Carolina Governor Henry McMaster, US Senator Darline Graham, US Secretary of Commerce Howard Lutnick, South Carolina Senator Harvey Peeler, South Carolina Representatives Dennis Moss and Brian Lawson, and Gaffney Mayor Lyman D. Dawkins III joined First Solar Chief Executive Officer Mark Widmar, employees, and community leaders for the ribbon-cutting ceremony.

“Thanks to First Solar’s investment, South Carolinians are building American energy technology in Gaffney, with nearly 700 good-paying jobs expected to support this critical work,” said Governor McMaster. “This is another example of why South Carolina continues to be recognized as a manufacturing powerhouse and a leader in our nation’s energy future.”

“I’m proud to see First Solar’s investment in South Carolina, which supports an America-first, affordable energy agenda. First Solar is showing their vote of confidence in hardworking South Carolinians, and we welcome their investment. Good paying jobs provide solid foundations for families and communities right here in Cherokee County,” said Senator Graham.

“First Solar is winning in America because they’ve invented their own technology, they’re building their own technology, and they’re building it in South Carolina,” said Secretary Lutnick. “It’s exceptional American technology produced by great American workers. That’s what we’re driving for, and that’s why we’re here today.”

“When we invest in jobs, we’re investing in possibilities for our people. And it doesn’t stop with the folks who work at First Solar. It reaches the small businesses that are the backbone of our community. Thank you for planting your flag in Gaffney and showing everyone that greatness is already here,” said Mayor Dawkins.

“Less than a year after we selected Gaffney, this facility is ready to produce American solar technology, built by South Carolinian workers,” said Widmar. “That pace reflects what is possible when sound policy, strong state and local partners, and a committed workforce align. Every module that leaves this facility is made without dependence on Chinese crystalline silicon supply chains, and it strengthens our ability to deliver the certainty our customers need as American electricity demand grows.”

The South Carolina facility, which supports American energy dominance and affordability goals, was catalyzed by demand for domestically produced energy technology created by the Administration’s trade policies and the One Big Beautiful Bill Act, signed into law by President Donald J. Trump in July 2025.

The new facility expands First Solar’s footprint in South Carolina, which also includes a distribution center in Duncan, Spartanburg County, and a longstanding partnership with Inland Port Greer. First Solar already operates the largest solar technology manufacturing and research and development (R&D) footprint in the Western Hemisphere, with manufacturing facilities in Alabama, Louisiana, and Ohio, in addition to South Carolina, and R&D centers in Ohio and California. By the end of 2026, the Company expects to have invested over $5 billion in American manufacturing and R&D infrastructure since 2019, and by 2027 it forecasts approximately 17 GW of US module manufacturing capacity, none of which has any dependence on Chinese crystalline silicon supply chains.

Having manufactured in the US since 2002, First Solar is the country’s leading PV solar technology and manufacturing company and the only one of the world’s largest solar manufacturers to be headquartered in the US. A study commissioned by First Solar and conducted by the University of Louisiana at Lafayette estimated that the Company supported nearly 30,000 American jobs and $3.0 billion in labor income in 2025, while contributing approximately $5.8 billion to US gross domestic product (GDP). The analysis projects that by 2027 the Company will support more than 39,000 jobs and $4.0 billion in labor income and contribute approximately $7.8 billion to US GDP.

About First Solar, Inc.

First Solar, Inc. is America’s leading PV solar technology and manufacturing company. The only US-headquartered company among the world’s largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with its advanced, uniquely American thin film PV technology. Developed at research and development (R&D) labs in California and Ohio, the Company’s technology provides a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV modules. For more information, please visit www.firstsolar.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains various “forward-looking statements” which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning expectations that (i) the second phase of the Gaffney facility will be completed by mid-2027, will produce solar panels with CuRe technology, and support nearly 700 jobs; (ii) First Solar will have a total US nameplate capacity of approximately 17 GW by 2027; and (iii) First Solar will have invested over $5 billion in American manufacturing and R&D infrastructure from 2019 to 2026. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on First Solar’s current expectations and First Solar’s projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. First Solar undertakes no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause First Solar’s actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the results of our investigation of potential infringers, and the costs and other impacts arising from any subsequent litigation, the results of which are unpredictable; the validity and scope of claims relating to the patents; the potential for companies to develop and patent technology designed to exclude our patented technology; and the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of First Solar’s most recent Annual Report on Form 10-K, as supplemented by First Solar’s other filings with the Securities and Exchange Commission.

This press release contains references to data and information generated by an economic study conducted by the Kathleen Babineaux Blanco Public Policy Center at the University of Louisiana at Lafayette and commissioned by First Solar. The study is based on numerous assumptions, estimates and other data as more fully described in the report summarizing the study’s findings, which is available at www.firstsolar.com/USeconomy.

 

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