Vietnam-based solar company Boviet Solar said it will invest $249 million for its first solar cell and module production facility in North America at Greenville, North Carolina.

The manufacturing complex will be built in two phases. Phase one will utilize an existing building to produce solar modules, while phase two involves constructing a 500,000 to 600,000-square-foot factory to manufacture photovoltaic (PV) cells. At full capacity, the site is expected to manufacture 2 GW of solar panels and 2 GW of PV cells annually.

Boviet specializes in monocrystalline PERC, TOPCon PV cells, and various monofacial and bifacial module series. The new facility in Greenville is scheduled to begin mass production in the first quarter of 2025.

Founded in 2013 in Vietnam, Boviet Solar is a subsidiary company of Boway Alloy. As of 2023, Boviet Solar’s annual solar cell and module manufacturing capacity is 3 GW, and it has shipped a total of 4.4 GW since inception, mainly to the U.S. market. The company has offices in the United States, Germany, and China, with its global headquarters in Vietnam.

The company cited providing “Made in USA” products and enhanced service to U.S. customers as key drivers behind the investment. Solar module and cell manufacturers are building production facilities in the U.S. to take advantage of subsidies provided by the Inflation Reduction Act as the country pushes to reduce its reliance on imports.

“We are proud of bringing our manufacturing excellence to our most important solar market, creating jobs, and making a positive impact on North Carolina’s economy,” said Jimmy Xie, General Manager of Boviet Solar.

In 2022, Boviet signed a contract to provide a global renewable energy developer with 255 MW of solar modules for a utility-scale solar project in the U.S.

Earlier this month, the Solar Energy Manufacturers for America coalition warned that a domestic solar manufacturing supply chain could not flourish amidst an oversupply of components and finished products from China.

Subsidized overseas manufacturers from China and Southeast Asia are using questionable trade tactics to undermine the billions of dollars in investment released after the passage of IRA for developing a domestic supply chain for solar module manufacturing, the coalition had said.