Solar

Norwegian solar company to invest $620M for its first US factory

Norwegian solar company to invest $620M for its first US factory
(Credit: NorSun)

Norwegian solar energy company NorSun has selected Tulsa, Oklahoma, for its first U.S.-based factory, with an initial planned investment of $620 million in a new 5 GW silicon ingot and solar wafer manufacturing facility.

The expansion, facilitated by the Oklahoma Department of Commerce and Tulsa Airports Improvement Trust, will create 320 new direct jobs and domestic production of ingot and wafer capacity.

“Our business plan has an ambitious timeline, so we knew we needed a partner who can work fast and efficiently to meet the critical need for American-made energy,” said NorSun CEO Erik Løkke-Øwre. “Oklahoma impressed us even before our selection journey – its robust clean energy, manufacturing ecosystem, and workforce development programs were already on our radar, and its competitive business offerings and site acceleration options solidified our decision.”

NorSun said it has identified a greenfield shovel-ready site of approximately 60 acres. Construction is expected to begin in late 2024, subject to approvals, necessary permits, and final incentive agreements.

“I’m proud to welcome NorSun to Oklahoma, and I’m thrilled that Oklahomans will benefit from hundreds of new jobs in the Tulsa area and a $620 million capital investment,” said Governor Kevin Stitt. “Our pro-growth policies, workforce development efforts, and ‘more of everything’ energy approach make us an incredible state to invest in, and I’m glad NorSun can be a part of it.”

Production is anticipated to come online in 2026, and NorSun said The Tulsa site offers an opportunity to further expand production up to 10 GW as the U.S. continues to prioritize domestic energy manufacturing.

“Year after year, Oklahoma makes massive strides in the clean energy space, with consistent investment from notable companies that are transforming the sector,” said interim director of business development for the Oklahoma Department of Commerce Tina Lindsay. “It’s a testament to our pro-business policies, robust workforce, site readiness, as well as our access to major markets. We’re thrilled to bring NorSun on board as we aim to scale U.S. solar manufacturing capacity.”

The U.S. added 11 GW of new solar module manufacturing capacity in Q1 2024, the largest quarter of solar manufacturing growth in American history. According to the U.S. Solar Market Insight Q2 2024 report released by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, U.S. solar module manufacturing capacity now exceeds 26 GW annually. Solar accounted for 75% of all new electricity-generating capacity added to the grid.

Per the report, the industry also installed 11.8 GW of new solar capacity, bringing total capacity to 200 GW in the United States. It was the industry’s second-largest quarter of installations, second only to the previous quarter, Q4 2023. New data from 2023 shows that the United States added more than 40 GW of new solar capacity last year. Wood Mackenzie now projects that the U.S. solar industry will install another 40 GW in 2024.

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