NorSun to inject USD 620m into Oklahoma solar wafer factory project

Norwegian solar product maker NorSun has selected Tulsa, Oklahoma, to become home to its 5-GW silicon ingot and solar wafer production plant, committing to make an initial investment worth USD 620 million (EUR 579.2m).

The Oslo-based company’s first US factory identified a greenfield shovel-ready site of roughly 60 ha (148.3 acres) and plans to begin construction late this year, the Oklahoma Department of Commerce said on Tuesday. The project is pending regulatory clearance and its launch is subject to the signing of final incentive agreements.

NorSun’s plan is to kick off production at the new site in 2026. According to the government’s statement, the Tulsa site has the potential to further boost the manufacturing capacity to up to 10 GW.

Currently, NorSun runs a 1-GW factory in its home country, which it plans to expand to 3 GW. The Norwegian group’s US project will be partly funded from a NOK-90-million (USD-8.5m/EUR 7.9m) equity financing round completed last summer and led by Statkraft Ventures.

(USD 1.0 = EUR 0.934)

(NOK 10 = USD 0.0943/EUR 0.881)

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