Abound Solar is planning to triple the capacity of its thin-film module manufacturing plant in Longmont, Colorado by the end of 2012, reports Recharge. The site expansion will see annual production capacity reach 200MW and help the company meet growing global demand for cadmium telluride (CdTe) modules.
At present, the Colorado site and its sole production line has a capacity of 65MW. In January, this number will be doubled by the addition of a second line, with a third and final line completing the ramp up in 2012.
Abound will finance the Colorado development and a new facility in Tipton, Indiana through a seven-year, US$400 million US Energy Department (DOE) loan and around US$210 million in equity investment and funding. When completed, the 640MW Indiana facility, which is scheduled to be completed in 2014, will be one of the largest PV manufacturing sites in the US and will create at least 850 full-time jobs.
Currently, Abound is concentrating on improving its global competitiveness by cutting costs in production and other areas. The company is already firmly established in the solar heartlands of Germany, Italy and the US, as well as in the burgeoning Indian market, and is confident of gaining even further share here and in other growth markets, such as Asia and Africa.