Solar manufacturer with Singapore roots plans large-scale expansion at Mesa del Sol

Make that two companies with Singapore roots planning large-scale manufacturing facilities in Albuquerque.

Ebon Solar, along with state officials, announced Wednesday the company’s plans for a massive 834,000-square-foot solar cell manufacturing facility at Mesa del Sol, a fast-growing area for expanding businesses. It is the same area where a planned Maxeon Solar Technologies manufacturing site will be located. Mesa del Sol is also home to Netflix’s West Coast production hub.

The solar manufacturer — currently based in Delaware with roots in Singapore — said it plans to invest $942 million into the facility, which will create more than 900 jobs.

Judy Cai, CEO of Ebon Solar, said the company’s “choice of Albuquerque for our investment aligns with our commitment to sustainable innovation, and New Mexico offers abundant solar resources, favorable renewable energy policies, and a dedicated, skilled workforce.”

“These factors enhance Ebon Solar’s capital investment and production capabilities and make the city of Albuquerque, Bernalillo County, and the state of New Mexico ideal partners as we integrate into the clean energy market,” Cai said.

The news of Ebon’s planned expansion at Mesa del Sol follows Maxeon Solar Technologies’ announcement last year. The Singapore-based company said it plans to build a 1.9 million-square-foot plant at the master-planned community to make solar cells and panels.

Maxeon officials have said the company wants to break ground later this year. At full capacity, Maxeon is expected to create 1,800 jobs.

Ebon Solar’s plan for a facility at Mesa del Sol, where it will develop beginning-to-end advanced manufacturing of solar cells, signifies a big win for New Mexico, which in recent years has pushed for advanced manufacturing expansions under Gov. Michelle Lujan Grisham.

Besides Maxeon, Albuquerque-based and publicly traded Array Technologies Inc. and its partners committed more than $50 million to a new 216,000-square-foot campus on Albuquerque’s West Side in April. There, the company plans to expand the production of its solar tracking systems, which will create more than 300 jobs.

Ebon Solar is leveraging advanced chip technology and financial resources from Ebang International Holdings Inc., a Singapore-based blockchain and fintech company, according to its website. Ebang International trades as EBON on the Nasdaq Stock Market and also has offices in China and Australia.

The expansion of Ebon Solar to New Mexico is expected to garner significant investments and tax breaks from the state, city and county.

Mark Roper, interim secretary for the New Mexico Economic Development Department, told the Journal that the state is proposing $10 million in Local Economic Development Act funds, with the city of Albuquerque planning to dish out another $1 million.

“I would expect to see some activity on that in August,” he said.

Marcos Gonzales, economic development director for Bernalillo County, said in an interview that the county’s contribution will be handling Ebon’s industrial revenue bond, or IRB, application. IRBs typically provide tax breaks for expanding companies.

Gonzales said the IRB application for the company will be introduced at a Bernalillo County Commission meeting next week.

“The fundamental piece is they convey the property to the county, and then we lease it back to them for the term of the IRB,” Gonzales said. “So in this case, like 30 years, and then at the end of it, we give it back to the property owner, and then they start paying property taxes. So, it’s the leaseback structure that creates the savings for the company.”

Bringing Ebon to New Mexico took a team of private and public officials, including the New Mexico Partnership and Albuquerque Regional Economic Alliance, an economic development organization that served as a project management partner throughout Ebon’s market evaluation process, officials said.

Lujan Grisham, who is in India on a 10-day trip focused on economic development and education issues, praised the expansion in a statement Wednesday.

“We have succeeded in making New Mexico a global center for advanced energy manufacturing,” Lujan Grisham said. “Ebon Solar joins other leading companies in embracing New Mexico’s commitment to renewable energy, its talented, dedicated workforce, and the opportunities we provide for job training and tuition-free college. All this works together to diversify the economy and create high-paying jobs for New Mexico’s families.”