Vietnamese Company to Open Solar Panel Manufacturing Plant in North Carolina

On April 26, 2021, it was announced that a Vietnamese-based company, Boviet Solar, will be establishing its first North American solar panel manufacturing plant in eastern North Carolina. The endeavor is projected to generate over 900 jobs and entails an investment of nearly $300 million in a 1 million square-foot advanced manufacturing facility located in Greenville.

Boviet Solar, founded in 2013 and currently operating in Vietnam, Germany, China and the U.S., specializes in the production of solar panels and photovoltaic cells. The company's products are utilized by commercial, industrial and residential customers across the United States. The forthcoming plant in Greenville, strategically situated 85 miles east of Raleigh, will significantly contribute to expanding the company's global capacity for high-end solar panels and photovoltaic modules.

Job Creation and Economic Impact

According to official sources, the new manufacturing facility is expected to create 908 jobs by 2028, with an average annual wage of $52,879, surpassing the average income in Pitt County. The decision to establish the plant in Greenville followed a comprehensive evaluation process that also considered alternative locations in Phoenix and Atlanta.

Earlier in the day of the announcement, a state panel granted Boviet Solar up to $8.3 million in cash incentives over a 12-year period, subject to the achievement of specified job-creation and capital spending targets. With a view to fostering the project, Boviet stands to receive a total of $34.6 million in combined state and local incentives. This support is part of the state's broader efforts to attract and facilitate investments in renewable energy and advanced manufacturing.

Expressing his enthusiasm for the venture, Boviet CEO Jimmy Xie emphasized the company's commitment to enhancing its presence in the most crucial solar market and its dedication to nurturing economic growth in North Carolina. These developments align with a broader trend, as another Vietnamese company, electric car manufacturer VinFast, is concurrently pursuing a major job-creating initiative by establishing a plant in Chatham County, with the potential to generate thousands of employment opportunities.