UPDATE 2-Norwegian solar firm NorSun to invest $620 mln in US factory

Norwegian solar energy company NorSun will invest $620 million in Tulsa, Oklahoma, for its first U.S. factory, the state's department of commerce said on Tuesday. The facility will produce silicon ingots and wafers needed to make solar cells that are the building blocks of panels.

Norwegian solar energy company NorSun will invest $620 million in Tulsa, Oklahoma, for its first U.S. factory, the state's department of commerce said on Tuesday.

The facility will produce silicon ingots and wafers needed to make solar cells that are the building blocks of panels. President Joe Biden's administration has sought to incentivize

a homegrown clean energy manufacturing sector that can compete with China.

NorSun will begin construction in late 2024, after it receives all regulatory approvals, and production is anticipated to come online in 2026, according to the statement. The facility will create 320 direct jobs.

"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," Oklahoma Governor Kevin Stitt said in a statement. "Our pro-growth policies, workforce development efforts, and 'more of everything' energy approach makes us an incredible state to invest in, and I'm glad NorSun can be a part of it." NorSun's ingots and wafers will help meet growing demand from solar cell and panel manufacturers, who must meet

stringent domestic content requirements for their products to qualify for a new tax credit included in Biden's landmark climate change law, the Inflation Reduction Act.

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