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Vista Projects

Factbox: U.S. climate package jump-starts EV, clean energy projects

These translations are done via Google Translate
Aerial view of the Overland Park Solar Array in Toledo, Ohio
An aerial view shows solar panels made by First Solar, during a tour of the Overland Park Solar Array in Toledo, Ohio, U.S., October 5, 2021. REUTERS/Dane Rhys/File Photo

Sept 12 (Reuters) – U.S. President Joe Biden’s signing of the Infrastructure Reduction Act (IRA) on Aug. 16 unlocked hundreds of billions of dollars in climate-related investments.

As a result, dozens of energy, automobile and clean technology companies have announced plans to move forward with new projects or accelerate the timeline on previous deals.

Here are some of examples:


  • Honda (7267.T) and LG Energy Solution (373220.KS) – $4.4 billion for a new battery plant with annual production capacity of 40 GWh.
  • Hyundai (005380.KS) – Construction of $5.54 billion EV and battery plant in Savannah, Georgia, could start this year instead of January 2023.
  • Panasonic (6752.T) – Second new battery plant: Panasonic, an EV battery supplier to Tesla, is considering Oklahoma for its second new $4 billion battery plant. The first plant will be in Kansas.
  • Tesla (TSLA.O) – Lithium refinery: EV giant Tesla is seeking approval in Texas to set up a lithium refinery. Construction could begin in the fourth quarter of 2022 and would reach commercial production by the end of 2024.
  • Volkswagen (VOWG_p.DE) – Volkswagen signed an agreement with Canada to advance a sustainable battery supply chain and supply lithium, nickel and cobalt.
  • Sparkz – More jobs: The battery startup in late August announced Taylor County, West Virginia, as the site of a future plant that will commercialize a zero-cobalt battery.
  • Piedmont Lithium Inc (PLL.O) – Lithium processing plant: The company said on Sept. 1 it will build a $600 million lithium processing plant in Etowah, Tennessee, that will begin production in 2025 with a target of 30,000 metric ton per year.


* Solar Energy Industries Association and Wood Mackenzie project the U.S. solar market growing 40% more than prior forecasts through 2027 on the heels of the legislation.

  • First Solar (FSLR.O) – Expanded manufacturing: Top U.S. solar panel maker First Solar Inc said on Aug. 30 it spend $1 billion to build a new facility in the Southeast and invest $185 million in its existing Ohio factories.
  • SPI Energy (SPI.O) – Letter of Intent for U.S. solar wafer manufacturing: SPI Energy announced on Aug. 23 that it signed a letter of intent to secure 1.5 GW of solar wafer manufacturing equipment, as part of plans for 3 GW of U.S. manufacturing capacity by 2024.
  • REC Silicon and Mississippi Silicon (RECSI.OL) – Solar supply chain expansion agreement: REC Silicon and Mississippi Silicon, which produce raw materials used in solar panels, announced on Aug. 22 they will expand their relationship to support development of an end-to-end U.S. solar supply chain.


  • Kontrolmatik Technologies (KONTR.IS) – Expansion of grid-scale battery factory: Virginia-based energy storage company Kontrolmatik announced on Aug. 16 that its first U.S.-based lithium-ion battery factory, previously expected to have a 2 GWh capacity, will now have a 3 GWh capacity.
  • Zinc8 (ZAIR.CD) – New battery manufacturing facility: Zinc8 announced Aug. 12 it signed a letter of intent to make Ulster County, New York, the home of its first major manufacturing hub, citing incentives included in the IRA.


  • Carrier (CARR.N) – Center of Excellence for heat pump production: On Aug. 24, air conditioning company Carrier designated a facility in Tennessee as site for high-efficiency heat pump production.


  • CarbonCapture — Accelerated project: Los Angeles-based CarbonCapture announced on Sept. 8 it is speeding up its plans to build a 5 million ton-per-year direct air capture project in Wyoming by several months thanks to the IRA.

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