A solar cell manufacturing company in Japan has signed an agreement with the Albany nanocollege to move its headquarters here and establish a manufacturing facility in Buffalo.
Solar Frontier, a photovoltaic solar company, is partnering with the College of Nanoscale Science and Engineering to explore establishing a manufacturing facility in Buffalo and locating its U.S. headquarters at the nanocollege in Albany.
The deal is expected to generate nearly $700 million in investments over the next seven years and create more than 1,000 jobs, mostly in the Buffalo area, according to a news release from the nanocollege on Tuesday.
“Collaboration would provide Solar Frontier the opportunity for significant growth, by establishing overseas production bases and advancing our company as a global leader in solar energy,” said Hiroto Tamai, president of Solar Frontier.
The company is looking to establish a presence in New York due to increased demand for the commercial and residential use of solar panels. Japan currently accounts for all of the company’s production.
Solar Frontier, based in Tokyo, has developed solar modules for more than 20 years and entered commercial production in 2007. The company's mission, according to its website, is "to create the most economical, ecological solar energy solutions on Earth."
“Solar Frontier recognizes New York is uniquely capable of supporting the level of research, development and manufacturing it requires,” said nanocollege CEO Alain Kaloyeros. “We thank Tamai and the leadership of Solar Frontier for their confidence in our great state and look forward to a successful partnership with such a world leader in photovoltaic technologies.”