Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN), a global leader in solar innovation and channels, today hosted a ribbon cutting event in its recently expanded and renovated manufacturing plant in Mexicali, Baja California, Mexico. Maxeon was honored to welcome the Governor of the State, Marina del Pilar Ávila Olmeda, among other distinguished guests. Leadership members of Maxeon hosted the celebration.
For the expansion and renovation of the Mexicali plant, Maxeon invested around 70 million dollars, increasing its cumulative investment in solar manufacturing in the country to over $260 million and confirming its position as the largest solar panel manufacturer in Mexico. The Company produces its shingled-cell Performance line solar panels in Mexicali.
This increase represents a growth in the Company installed production capacity to 1.8 GW/year, placing the Mexicali plant amongst the largest solar panel manufacturing facilities throughout the Americas. Maxeon also owns a second manufacturing site in Ensenada, Baja California, Mexico. The two plants have a combined production capacity of more than 2.5 GW/year and a workforce of more than 2,000 employees.
"This important milestone is a reflection of the hard work and dedication of the entire Maxeon team. Our best-in-class solar products made in Mexicali and Ensenada can be found in power plants and rooftops around the world, through which we contribute to reducing carbon emissions and combating climate change," said Bill Mulligan, CEO of Maxeon.
"Due to its talented workforce, its privileged geographical location, and a favorable business environment, today Baja California plays and will continue to play an increasingly relevant role in meeting the growing demand for our products in North America and the rest of the world in the coming years," he added.
For her part, Governor Marina del Pilar Ávila Olmeda, said that the values of Maxeon Solar Technologies coincide with those of the State Government, which are focused on protecting the environment and reducing polluting emissions in accordance with the 2030 Agenda of the United Nations. She also emphasized the importance of innovative ventures continuing to arrive in Baja California that translate into employment, wellbeing, and solutions for the people of the state.
Not only does the expansion and renovation of the Mexicali plant demonstrate the Company's contribution to a cleaner, more sustainable future and job creation in the area, but also a commitment to excellence in solar panel manufacturing and it is part of a broader strategic plan to grow Maxeon's manufacturing footprint globally.
