VSK Energy Plans Brighton, Colorado, PV Module Manufacturing Facility
The new solar photovoltaic (PV) module manufacturing facility will be located at the 76 Commerce Center. The company has a second factory planned for the Southern U.S.
"The passage of the Inflation Reduction Act was a landmark moment for the clean energy future of the United States," said Sriram Das, Co-Chairman of VSK Energy. "The Biden Administration and Congress have called for immediate action and, through our partnership in VSK, we are taking a decisive step towards achieving solar technology self-sufficiency, fortifying America's energy security, and propelling large-scale solar deployment. I am also particularly proud to bring together leaders from both the United States and India to make this investment and commitment to America's clean energy future."
The Colorado Economic Development Commission approved up to $9,173,689 in performance-based Job Growth Incentive Tax Credits for VSK over an 8-year period. These incentives are contingent upon the company, referred to as Project Pothos throughout the OEDIT review process, creating up to 951 net new full-time jobs at a minimum average annual wage of $65,312 (100% of the average annual wage in Adams County) or 100% of the average annual wage of any Colorado county the company decides to locate over eight years.
“Cleantech in Colorado contributes $4.6 billion per year to the state’s economy and employs over 62,000 Colorado workers. By establishing a new solar manufacturing facility in Brighton, VSK will grow this important employment sector and help further Colorado’s commitment to grow clean energy technologies,” noted Eve Lieberman, Executive Director of OEDIT.
VSK is a majority U.S.-owned and operated joint venture between one of the largest solar energy solutions providers, India-based Vikram Solar, sustainability-focused private equity firm Phalanx Impact Partners, and investment and development firm Das & Co. which has expertise in the solar industry in the United States, India and emerging markets.
“We are thrilled to welcome VSK Energy, Inc. to the Metro Denver region," added Metro Denver Economic Development Corporation President Raymond H. Gonzales. "The addition of solar manufacturing facilities like VSK bolster Colorado as a leader in sustainability. This move is not only great for maintaining our beautiful landscape, but also for our diverse energy economy. With Colorado having some of the most ambitious climate goals over the next few decades, companies like VSK help us innovate and stay competitive. We cannot wait to see what VSK will accomplish here."
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