NC Fast Facts: Solar panel manufacturer plans manufacturing facility in Greenville

The firm will produce products for residential, commercial and industrial uses

Bovet CEO Jimmy Xie speaks at a press conference April 26 in Greenville. (City of Greenville, N.C., via Flickr)

GREENVILLE — A Vietnamese-based company will build its first North American solar panel manufacturing plant in eastern North Carolina, creating more than 900 jobs, officials announced Friday.

Boviet Solar along with state government officials revealed at an East Carolina University news conference the company’s plans to invest $294 million in a 1 million-square-foot advanced manufacturing facility in Greenville.

Founded in 2013, Boviet makes solar panels and photovoltaic cells that are already used in the U.S., according to a state news release. Boviet also has offices in Germany, China and the U.S., according to a company fact sheet. Boviet is owned by Boway Alloy, a Chinese global company founded in 1993 and publicly traded at Shanghai Stock exchanges since 2011.

The facility will produce Boviet’s TOPCon N-Type cells, and other produces for residential, commercial, industrial and utility-scale clients in the U.S. market. Phase one of the project will utilize an existing building to manufacture solar modules. A second phase will include constructing a new factory on 34 acres. The facility is expected to output 2 gigawatts of solar panels and 2 gigawatts of photovoltaic cells. Solar panels are made of multiple, interconnected photovoltaic cells.

The plant in Greenville, located 85 miles east of Raleigh, is scheduled to open in the first quarter of 2025.

“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 Boviet CEO Zhaochun Xie in a press release from the state. “We are committed to expanding solar as a widely used renewable energy source in the U.S. and delivering locally made, top-performing PV modules to accelerate the advent of the global renewable revolution.”

The 908 jobs, expected to be in place by 2028, on average will pay $52,879 annually, which is slightly above the Pitt County average, a state Commerce Department document said.

Boviet also considered alternative sites for the plant in Phoenix and Atlanta, the document said.

Earlier Friday, a state panel approved cash incentives to Boviet of up to $8.3 million over 12 years if it meets job creation and capital spending thresholds. In all, Boviet is poised to receive $34.6 million in combined state and local incentives for the project, according to the commerce document.