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DOE Offers $1.45 Billion Loan Guarantee to Qcell for Solar Manufacturing Expansion in Georgia, Creating Thousands of Jobs.

The US Department of Energy (DOE) has committed a conditional loan guarantee of up to USD 1.45 billion (EUR 1.33bn) to Qcell, a South Korean group that plans to expand its solar manufacturing expansion in Georgia. The investment is part of a USD-2.5-billion plan for a fully-integrated silicon-based solar supply chain in the US. The DOE requires Qcells to meet certain financial, legal and other requirements before a definitive financing deal can be reached. The project is expected to open about 1,200 jobs in the construction phase and support 1,950 full-time jobs once commissioned.

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