One more important step is being taken in the move to build a gigantic solar cell and panel manufacturing facility in metro Albuquerque. In August it was announced that the Singapore-based Maxeon Solar Technologies was planning to build a more than $1 billion plant in the Mesa del Sol master planned community, some 9 miles to the south of downtown Albuquerque. At the time of that announcement, the company said it wanted to build a 3-gigawatt facility, with distant hopes for a 4.5-gigawatt facility in the future, depending upon customer demand. In revealing the company’s plans, Maxeon Chief Executive Officer Bill Mulligan remarked: “Our new solar cell and panel facility in New Mexico is an ambitious and concrete response to the need to decarbonize the U.S. economy, while creating permanent highly skilled local manufacturing and engineering jobs.” Now the company is requesting $2.4 billion in industrial revenue bonds from the City of Albuquerque, along with another $20 million in Local Economic Development Act funding. Both of those requests have secured a green light from the Albuquerque Development Commission and are on their way to the Albuquerque City Council for final approval. By design, industrial revenue bonds comprise the amount of money any company is willing to invest to get a given project built. In voting on the industrial revenue bonds for Maxeon, members of the Albuquerque Development Commission were responding to a proposal that said the company would create nearly 1,800 high-paying jobs, while meeting the community’s “economic development priorities and objectives.” Founded in 2020, Maxeon is regarded as a global leader in solar innovation. Earlier this year it was listed on the Global 100 Index by the sustainable research business firm Corporate Knights for its clean power and sustainable investments. The Albuquerque City Council is expected to decide on both the industrial revenue bonds and Local Economic Development Act funding request for Maxeon by no later than early next year. By Garry Boulard
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