$2.2B in new investments, including $1.2B in EV manufacturing

WASHINGTON — Businesses announced plans for at least 18 new large-scale clean energy projects in 11 states and Puerto Rico in August, according to national nonpartisan business group E2’s monthly analysis of new clean energy and clean transportation projects. Based on publicly available information from 17 of the 18 announcements that included jobs and/or investment estimates, the projects would create more than 9,500 jobs and bring about $6 billion in new private investment.

Following is a statement from Michael Timberlake, E2 communications director:

“It’s been more than a year since historic climate policy reshaped the energy landscape and the momentum behind clean energy businesses expanding in the U.S. is not slowing down. The market is clear and companies from across the country and globe are determined to make the most of this economic opportunity – and the American worker stands to benefit. 

Since the Inflation Reduction Act (IRA) took effect in August 2022, businesses have announced at least 223 major new clean energy projects across 38 states and Puerto Rico. Of the projects with publicly available estimates, $88.2 billion in new private capital would be invested and more than 78,500 jobs created.

See E2’s full one-year analysis of the major clean energy projects for a detailed look at the announcements by sector, by state, by congressional district, by month, and more. 

A full list of announcements is available at e2.org/clean-energy-announcements/.

August 2023 Highlights

  • Nine of the 18 planned projects are located in Republican congressional districts and four are in Democratic districts. Site specifics were unavailable for the two other developments.
  • Four of the 18 projects represent private investments estimates over one billion dollars each. They include a $2 billion EV and battery/storage manufacturing plant expansion in Bryan County, Georgia, a $1.23 billion wind manufacturing facility in Pleasure Island, Texas, a $1 billion solar manufacturing plant in Mesa Del Sol, New Mexico, and a $1.1 billion solar manufacturing facility in New Iberia, Louisiana.
  • One company made multiple announcements in August – Global grid technology leader, Eaton Corporation, announced one project in Wisconsin and one in Texas.
  • Eight of the 18 announcements are in the EV sector, seven are in the solar sector, two are in the grid, transmission and electrification sector, and one is in the wind sector.
  • Four of the states had multiple announcements, led by Texas (3), and followed by California (2), Georgia (2), and Wisconsin (2).
  • 12 of the announcements were made by companies based outside the U.S. or whose parent company is based outside the U.S.
  • Manufacturing continued to dominate the list of announcements, with every project except for one announcing either new manufacturing capacity or research and support for advancing manufacturing capabilities.

Detailed below is a list of clean energy announcements tracked by E2 in August. 

Date Company State Source Sector Type Jobs Investment
08-31-2023 Hyundai & LGES GA Link EV, Battery/Storage Manufacturing 400 $2,000,000,000
08-29-2023 Bila Solar IN Link Solar Manufacturing 240 $35,000,000
08-29-2023 Diligence Offshore LLC TX Link Wind Manufacturing 4,000 $1,230,000,000
08-29-2023 Daesol Ausys GA Link EV Manufacturing 140 $72,000,000
08-28-2023 Harbinger Motors CA Link EV Manufacturing 160
08-24-2023 Microlink Devices IL Link Solar Manufacturing 9 $9,500,000
08-17-2023 Stellantis CA Link EV, Battery/Storage Manufacturing $100,000,000
08-15-2023 Shinwa AL Link EV Manufacturing 50 $114,000,000
08-15-2023 Great Lakes Solex PR Link Solar Manufacturing 800
08-15-2023 Siemens WI Link Solar Manufacturing 12
08-15-2023 Eaton Corporation WI Link Grid, Transmission and Electrification Manufacturing 150 $22,000,000
08-14-2023 John Deere NC Link EV, Battery/Storage Manufacturing 50 $69,000,000
08-10-2023 Maxeon NM Link Solar Manufacturing 1,800 $1,000,000,000
08-10-2023 First Solar LA Link Solar Manufacturing 700 $1,100,000,000
08-08-2023 Eaton Corporation TX Link Grid, Transmission and Electrification Manufacturing 218 $100,000,000
08-07-2023 Unimacts NV Link Solar Manufacturing 200
08-02-2023 Hanon Systems TN Link EV Manufacturing 600 $170,000,000
08-02-2023 XCharge TX Link EV R&D

Additional Resources:

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E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.

 

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