German solar technology manufacturer RCT Solutions has signed a memorandum of understanding (MoU) with the government of Manitoba in Canada to advance its proposed $3bn solar manufacturing project.
The project involves the construction of an advanced manufacturing facility with the capacity to produce two million solar panels annually.
Go deeper with GlobalData
Under the MoU, RCT will complete a project design, undergo a set process for site selection, and then outline a final development plan for the proposed facility to the provincial government.
The Manitoba government will help the company by supporting its applications under federal and provincial economic stimulus programmes for research and development, construction costs, and training incentives, among others.
Manitoba Economic Development, Investment and Trade Minister Jeff Wharton said: “This plant would be the first of its kind in the world with a fully integrated manufacturing process when it is completed.”
Currently, RCT and its partners are exploring investment options for the proposed solar panel manufacturing plant.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAnticipated to create 8,000 permanent, full-time jobs, the facility is also expected to help North America significantly reduce its dependence on imported products.
Wharton added: “This new plant will have one of the lowest carbon footprints in the world, and the solar panels manufactured and exported will significantly increase Manitoba’s gross domestic product (GDP) and the province’s bottom line.”
Once fully operational, the site will be capable of producing 10GW of solar panel power annually.
RCT founder and CEO Peter Fath said: “By harnessing the potential of clean energy, we are proud to announce that our factory will single-handedly reduce carbon emissions by a remarkable 14 million tons every year.”
