Governor Beverly Perdue says the project will mean 256 jobs in Vance County.
Perdue was on hand for the announcement by Semprius, Inc. in Henderson Tuesday.
Semprius produces high concentration photovoltaic (HCPV) solar modules.
"Semprius chose to launch this cutting edge technology in North Carolina because our investments in education and worker training ensure that they can find the job-ready employees they need," said Perdue. "We welcome them to North Carolina: the smart grid capital of the world."
In a news release, Semprius said The North Carolina Department of Commerce used more than $7.88 million in incentive grants to help lure it to the state. Semprius said it will make a capital investment of $89.7 million in Henderson and expects to draw about $120 million in investment to the region.
"We are excited to partner with the state of North Carolina and Vance County in bringing new jobs to the region, and we appreciate the commitment to both the success of our company and the advancement of solar power generation," said Joe Carr, Semprius president and CEO.
Semprius said the initial phase of the project will employ 60 people who will make its low cost photovoltaic cells. It expects to expand to the full 256 jobs in five years. The pilot production plant is expected to open in August 2012.
"Semprius HCPV modules can concentrate the sun more 1,000 times for highly efficient conversion into electricity," said Carr. "We believe HCPV solar technology is leading us toward achieving grid parity with fossil-based fuels, and we’re proud that the state of North Carolina and Vance County find our technology as important to the future of clean energy as we do."