Area Development
Signet Solar, a manufacturer of thin-film solar panels, will build its first North American production facility in Belen, New Mexico, according to the New Mexico governor's office. The company is expecting to create 200 new jobs during the first phase of production, with plans for expansion and a potential total of 600 new jobs. "New Mexico was an obvious starting point for Signet Solar's expansion into the growing U.S. renewable energy market," says Rajeeva Lahri, Signet Solar's co-founder and CEO. "New Mexico has demonstrated commitment to renewable energy through public-private partnerships, leveraging its skilled work force and world-class research institutions." The new facility will have an annual production capacity of 65 megawatts - enough to power approximately 20,000 homes; long-term plans call for an expanded capacity of 300 megawatts per year.