[caption id="" align="alignright" width="304"] Rendering of SolarCity Corp.'s planned Buffalo factory.[/caption]

SolarCity Corp. remains on target in its plans to build the largest solar panel factory in the Western Hemisphere in Buffalo, the publicly traded company said Wednesday in a letter to investors from CEO Lyndon Rive.

The San Mateo, Calif., company's South Buffalo factory will be constructed at the former Bethlehem Steel site, now called RiverBend, a proposed clean energy park in which $5 billion of investment is expected over the next few years, including roughly $750 million in state incentives, mostly from Gov. Andrew Cuomo's Buffalo Billion allocation.

The state will own the RiverBend facilities, including the 1 million-square-foot SolarCity factory, an economic development model first developed around the nanotechnology industry in Albany. SolarCity expects to create as many as 3,000 jobs in Western New York over the next ten years.

READ MORE

Posted: Feb 19, 2015, 12:06pm EST Updated: Feb 19, 2015, 3:45pm EST | Dan Miner