The Associated Press is reporting that despite the current economic downturn, Schott Solar, a New York-based manufacturer and distributor, is still doing well and the plans for a 250,000-square-foot Albuquerque solar panel plant are going ahead as planned. The plant will be built in the Mesa Del Sol area on the southern end of Albuquerque.

Zane Rakes, the plant’s director of operations, said Schott has been blessed in that its plans have not been affected by the economy and it has avoided the credit crunch that has left many companies with expansion plans in a bind.

“A lot of the stuff we’re doing here is supporting projects that were already planned and funded. Our project is totally funded by Schott so we’re not relying on other sources of funding,” Rakes said. “We’re in a pretty rare spot.”

Schott hopes the plant will eventually employ 1,500 people.

This is surely welcome news to Albuquerque Mayor Martin Chavez, who has had some egg on his face after the high-profile problems of Eclipse Aviation, the struggling airplane manufacturer that Chavez lured to the Duke City.

Luckily for Chavez, and whatever future political ambitions he has, Schott Solar isn’t having those problems. And Chavez hopes it turns Albuquerque into an important player in the solar energy market.

“That’s part of my vision for Albuquerque, to have us be the solar capital of the country,” the mayor told The Associated Press.