U.S. solar module and cell manufacturing investments in November
While we were filling our bellies with turkey and stuffing, these solar module and cell manufacturers were busy filling out their U.S. solar module and cell supply chains. Here are the most recent announcements to hit our inbox.
Silfab Solar Cell Manufacturing
Solar cell manufacturing is a key area of need in the push for U.S. domestic content. Silfab Solar closed on $100 million of new financing to scale its solar cell manufacturing plant – a $50 million equity and a $50 million senior secured led by Breakwall Capital.
This $100 million will be used to boost overall capacity of Silfab’s cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, which is scheduled to be operational by the end of this year.
“American-made clean energy is and will remain in huge demand. We are thankful for the continued support of both existing and new investors in our mission to lead the reshoring of the PV supply chain – ensuring a sustainable supply of US-made PV modules,” said Paolo Maccario, Silfab President and CEO.
TOYO Solar investment
As TOYO Co. looks to better serve the U.S. solar market, the company has agreed to acquire 100% of membership interests in Solar Plus Technology Texas LLC located in Houston metropolitan area in Texas, via its subsidiary TOYO Solar LLC.
The newly leased facility spans 567,140 square feet, which will be used for 2.5 GW of solar module manufacturing capacity, further expanding to 6.5 GW by 2029. The factory construction of Phase 1 of the facility has been completed, and a portion of the required equipment will arrive by early 2025. The facility’s first 1 GW production is expected by mid-2025. Production capacity is expected to be increased to 2.5 GW by the end of 2025.
“This acquisition marks a significant step in TOYO’s strategy to establish a manufacturing footprint in the U.S., complementing our current manufacturing presence in Vietnam and Ethiopia. “Our strategy is to supply end customers with solar solutions that are technologically advanced, highly reliable, and cost competitive.”
“By acquiring Solar Plus, we will accelerate our development and leverage our team’s proven manufacturing excellence, as well as the extensively established customer relationships and the brand of our sister company, Vietnam Sunergy, a Tier 1 Bloomberg NEF solar manufacturer,” said Mr. Junsei Ryu, Chairman and CEO of TOYO. “We are confident that our expansion in the U.S. will effectively deliver a comprehensive solar technology solution, addressing bottlenecks for developers, meeting local content requirements for U.S. solar projects, and enhancing TOYO’s competitive advantage.”
Suniva cells deal
Suniva, the U.S. solar cell brand that really kicked off this new era of tariffs with its petition back in 2017, signed multi-year strategic sourcing agreement for its solar cells with Imperial Star Solar, a Texas-based manufacturer of American-made solar PV modules.
Imperial Star will incorporate Suniva’s U.S.-made solar cells into its U.S.-made solar modules, with market availability beginning in first half of 2025.
“This partnership with Suniva exemplifies Imperial Star Solar’s mission to empower excellence in American solar,” said Isabella Xu, CEO of Imperial Star Solar. “By integrating Suniva’s domestically produced solar cells into our modules, we’re strengthening a U.S. supply chain that prioritizes quality, control, and energy security.”
Trinasolar and FREYR
As we previously reported, just after the election, Trina Solar and FREYR Battery announced an agreement for FREYR to acquire the U.S. solar manufacturing assets of Trina Solar, specifically the 5 GW, 1.35 million sq ft solar module manufacturing facility in Wilmer, Texas, that started production on Nov. 1, 2024. The facility is expected to ramp up to full production in 2025 with 30% of estimated production volumes backed by firm offtake contracts with U.S. customers.
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