Germany's Schott Solar inaugurated a plant in Albuquerque, New Mexico on Monday that will produce photovoltaic modules and solar thermal receiver lines.

Schott Solar has created 350 jobs in the new facility, the company said today in a statement. Most of the solar components manufactured there will be used for U.S. projects and less than a quarter will be shipped overseas, Gerald Fine, President and CEO of SCHOTT North America told Reuters.

Investing in solar energy is the right investment for today, said Fine in a statement today. We're creating stable jobs in an industry that will benefit every American and the country as a whole.

Initially the Albuquerque facility will have an annual capacity of up to 85 Megawatts of 225 photovoltaic polycrystalline modules. It will also produce enough receivers to meet the demands of up to 400 MW concentrated solar power plants per year.

Schott boasts this new plant is the first new solar manufacturing facility to open since the Federal government signed the American Recovery and Reinvestment Act into law.