Enel North America is set to construct a massive solar photovoltaic cell and panel manufacturing facility in Inola, Oklahoma, that is expected to produce around 3 gigawatts of solar panels annually. The Italian renewable energy company will invest $1 billion in the project and create around 1,000 permanent jobs by 2025. Construction is scheduled to commence in the fall. Enel North America has already invested over $3 billion in thirteen wind farms in Oklahoma in the past decade and built a regional office in Oklahoma City to aid workforce development.
The Oklahoma Legislature’s $180 million incentive package for Enel North America has been a vital factor in the decision to build the facility in the state. The company has promised to spend $1.8 billion on qualifying capital investments to qualify fully for the rebate. The Legislature has also agreed to provide more than $38 million for water and wastewater systems upgrades in the region, including at the Port of Inola.
Enel’s parent company, along with other European firms, has expressed interest in investment opportunities arising from the U.S. Inflation Reduction Act’s $375 billion benefit for renewable industries. Oklahoma Governor Kevin Stitt hailed the decision, saying that “Enel’s expansion is a huge win for Oklahoma, and I’m thrilled by their record investment in our state’s economy and workforce that will have a lasting legacy.” Enel said that the project offers potential for a second phase that will produce up to 6 gigawatts and around 900 more jobs.
The new facility is expected to provide over 1,800 employment opportunities during the construction stage and facilitate an investment of more than $1 billion. Lawmakers are also envisaging offering a separate incentive package to lure a second Panasonic factory to the state after the Japan-based company in 2020 chose Kansas as the base for a multibillion-dollar mega-factory to make EV batteries for Tesla and other automakers.
