THUNDER BAY -- A company could be planning a solar panel manufacturing facility in Thunder Bay.

THUNDER BAY -- A company could be planning a solar panel manufacturing facility in Thunder Bay.

Officials with Energy North Bancorp Incorporated, who will hold a news conference May 26, say the project would have a total price tag of $5 billion and would create thousands of direct and indirect jobs.

According to the Bancorp website, the company specializes in solar panel innovation. Officials with the city's economic development commission would not comment on the proposal but they confirm they have had discussions with the company.

A copy of the project's executive summary says the company plans to construct a fully integrated solar manufacturing hub in Thunder Bay using 200,000 megatons of silica sand and other materials to create eight million glass modules per year. The production would have 90 per cent local content and would create 15,000 construction jobs and 6,000 direct jobs. Company officials were not available for comment Thursday but more details are expected at the news conference.