California Firm to Build Solar Panels in Belen
A California firm will build a solar panel production facility in Belen at a planned residential-industrial development that will buy the panels for a solar farm, Gov. Bill Richardson announced. "This is great news," the governor said Tuesday. "Economic development jobs are alive and well in New Mexico despite a bad national economy."
Photo by Pete Jelliffe
Signet Solar of Menlo Park - which built its first plant near Dresden, Germany - plans to start construction in 2009 and begin operations in 2010, chief executive officer Rajeeva Lahri said.
The plant will be located south of Albuquerque at Rancho Cielo, the project of a California developer that was a major donor to Richardson's gubernatorial re-election in 2006.
The state will provide at least $25 million in tax breaks and incentives over a six-year period, said Economic Development Secretary Fred Mondragon.
In addition, Richardson will ask lawmakers who meet in January to approve $8 million in capital projects spending on the new facility, Mondragon said.
Read more at: http://www.forbes.com/feeds/ap/2008/12/17/ap5831968.html
