Boviet Solar, a Vietnamese-based company, has announced plans to build its first North American solar panel manufacturing plant in eastern North Carolina. The company will invest nearly $300 million in a 1 million square-foot advanced manufacturing facility in Greenville. The plant is expected to create over 900 jobs by 2028, with an average annual salary of $52,879, slightly above the Pitt County average. Boviet already produces solar panels and photovoltaic cells used in the U.S. by commercial, industrial, and residential customers and has offices in Germany, China, and the U.S.
The decision to build the plant in Greenville was announced at an East Carolina University news conference with Gov. Roy Cooper and other government officials, emphasizing the positive impact the new facility will have on North Carolina’s economy. Boviet CEO Jimmy Xie expressed pride in bringing the company’s manufacturing excellence to the state’s most important solar market. The Greenville plant will help increase company capacity worldwide for high-end solar panels and photovoltaic modules. Boviet considered alternative sites for the plant in Phoenix and Atlanta but ultimately chose North Carolina for its strategic location and economic incentives.
The state panel approved cash incentives of up to $8.3 million over 12 years for Boviet, contingent on the company meeting job creation and capital spending thresholds. In total, Boviet is set to receive $34.6 million in combined state and local incentives for the project. The company’s decision to establish a manufacturing plant in North Carolina is part of a larger trend of Vietnamese companies investing in the state. Electric car manufacturer VinFast, another Vietnamese company, is building a plant in Chatham County that is expected to create thousands of jobs.
Boviet’s investment in North Carolina’s solar energy sector is a significant boost to the state’s renewable energy industry. The company’s focus on high-end solar panels and photovoltaic modules will contribute to the growth and development of clean energy technologies in the region. The creation of over 900 jobs at the Greenville plant will provide economic opportunities for local residents and strengthen North Carolina’s position as a leader in renewable energy production. The decision to build the manufacturing facility in the state reflects the attractiveness of North Carolina’s business environment and the potential for further expansion in the clean energy sector.
Overall, Boviet Solar’s announcement of its North American manufacturing plant in North Carolina signals a positive economic development for the region. The creation of over 900 jobs by 2028 and the significant investment in solar panel manufacturing will enhance North Carolina’s position as a hub for renewable energy technologies. The state’s provision of incentives to attract Boviet and other Vietnamese companies demonstrates a commitment to fostering economic growth and innovation in clean energy. The establishment of the Greenville plant marks a milestone in Boviet’s global expansion efforts and reinforces North Carolina’s reputation as an attractive destination for foreign investment in the renewable energy sector.
