Green2V plans to manufacture solar cells and their frames as well as design, install, operate, and finance the systems, said company CEO Bill Sheppard last Wednesday. By controlling the entire value chain, the company expects to reduce the cost of solar energy.

The new company’s headquarters will be built just north of Albuquerque in Rio Rancho, New Mexico’s fastest growing city and the home of an Intel Corp. plant that Sheppard led in the 1990s. Over the next five years the company expects to employ 1,500.

The Albuquerque Business Journal reported that "Initial funding for the project will come from GP3 Ltd. of Los Angeles, and its CEO George Peters" and that the company will seek $500 million in industrial revenue bonds from Rio Rancho.

The privately owned company does not appear to have a web site yet.

Sources: Albuquerque Business Journal, Santa Fe New Mexican, KRQE News 13