An old Ford factory in Michigan could become a mass solar panel factory if two budding energy companies have anything to do with it, according to reports in the Detroit News.

California-based solar panel maker Clairvoyant Energy and Texas-based large-scale battery systems company Xtreme Power are rumoured to be interested in the old Ford Motor plant, which they will turn into a renewable energy park according to the Associated Press.

Both firms are waiting, however, for the sanction of federal loans and state tax incentives before going ahead with the $725m project, which could generate about 4,300 jobs in the renewable space.