Power-One Inc., the nation’s largest manufacturer of renewable-energy conversion devices, announced Thursday that it will open a manufacturing facility in Phoenix. The new 120,000-square foot facility in Phoenix will manufacture devices that covert electricity from solar panels and wind turbines for residential, commercial and utility-grade use.

The Camarillo, Calif.-based company said the facility will create 350 jobs, with production beginning in October and full capacity reached by mid-2011. The Power-One Phoenix facility will produce its industry-leading photovoltaic and wind inverters, including single phase (2-6KW) and three phase string inverters, and NEMA 3R 250KW, 300KW and 400KW central inverters. In the future, for wind applications, the product range will include 2.5 MW inverters. The new manufacturing plant will reach an annual inverter production capacity of 1.0 GW by mid 2011.

At a news conference announcing the plant, Gov. Jan Brewer credited the Renewable Energy Tax-Incentive program she signed into law with attracting the company and “quality jobs,” and said Power-One brings significant investments that will bolster the Arizona economy.

The Renewable Energy Tax-Incentive program is intended to support alternative-energy production and lure international business. It offers income and property tax incentives for new or expanding renewable-energy companies that increase with the level of capital investment.