Ebon Solar’s Application Unanimously Approved By Bernalillo County Commissioners
Key Takeaways
- Bernalillo County has approved Ebon Solar’s application to issue Taxable IRB
- It will issue the bonds not exceeding $942 million for the company’s proposed cell factory
- Additionally, NMEDD is providing $10 million and the City of Albuquerque $1 million to the factory
The Bernalillo County Commissioners in New Mexico, US have agreed to issue Taxable Industrial Revenue Bonds (IRB) not exceeding $942 million for Ebon Solar’s proposed Project Apollo solar cell manufacturing facility within Bernalillo County. These bonds work as tax exemptions for businesses.
Singapore-headquartered solar PV company Ebon Solar secured the unanimous approval for its Taxable IRB application to advance the proposed solar cell fab.
As it announced in August 2024, Ebon plans to build a solar cell manufacturing factory in the Mesa del Sol Industrial Development Area on an 834,000 sq. ft. space. To be constructed for $942 million, it will create more than 900 new jobs, the company stated (see Ebon Solar Announces $942 Million Solar Cell Factory In New Mexico, USA).
The New Mexico Economic Development Department (NMEDD) has agreed to contribute $10 million to Ebon’s proposed fab from Local Economic Development Act (LEDA) funds. The City of Albuquerque has also approved a contribution of $1 million in LEDA. The latter will serve as the fiscal agent for these resources.
“We are excited to support Ebon Solar with the approval of their Industrial Revenue Bonds application,” said District 2 Commissioner Steven Michael Quezada. “This project represents the type of advanced renewable energy manufacturing I want in my district, Bernalillo County, and our state. Bringing over 900 new jobs to central New Mexico is a significant win for our region.”
Source from Taiyang News
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