The United States International Development Finance Corporation (DFC) announced approval of up to $500 million of debt financing to First Solar—an investment that will significantly boost the company’s solar panel manufacturing capacity while also generating momentum for ongoing U.S. efforts to develop global supply chains that are free from the use of forced labor.

First Solar is the largest American solar manufacturing company, as well as the only U.S. company among the world’s ten largest solar manufacturers.

The loan announced represents the largest single debt financing transaction ever for the DFC, and will support First Solar’s vertically integrated photovoltaic (PV) solar module manufacturing facility in Tamil Nadu, India, with a projected annual capacity of 3.3 gigawatts.