Ho Chi Minh City authorities Friday granted a license to the US-owned First Solar, the world's leading solar panel manufacturer, to establish a US$1-billion-plus factory.
Tymen DeJong, who is in charge of First Solar's global production, said the construction will be launched this Monday (January 24). Production is expected to commence in mid-2012.
The plant, which was established in the Cu Chi District's Dong Nam Industrial Zone, will have a total capacity of 238 megawatts annually in the first stage.
Capacity is expected to increase, four-fold, in the second stage.