The Division of Vitality’s Mortgage Packages Workplace (LPO) has made a conditional dedication for a $1.45 billion mortgage assure to Qcells.
The mortgage assure will assist the corporate’s photo voltaic provide chain facility in Cartersville, Ga., which is slated to provide ingots, wafers, cells and completed photo voltaic panels.
As soon as absolutely operational, the power is predicted to provide 3.3 GW of photo voltaic panels yearly.
Qcells’ different photo voltaic manufacturing facility, opened in 2019, is situated one hour north of the brand new facility web site, in Dalton, Ga.
Tasks just like the one introduced at this time will profit from the Part 45 Superior Manufacturing Manufacturing Tax Credit score, also referred to as 45X, created by President Joe Biden’s Inflation Discount Act.
The mortgage assure can be supplied by way of LPO’s Title 17 Clear Vitality Financing Program, which incorporates financing alternatives for modern vitality and provide chain initiatives and initiatives that reinvest in present vitality infrastructure.
