Silfab Solar has closed on $100 million of new financing to scale its solar cell manufacturing plant in Fort Mills, S.C.
The $50 million equity investment was led by funds advised by ARC Financial and includes investment from their existing co-investors. The company additionally raised a $50 million senior secured financing, led by Breakwall Capital, and includes an investment from SR Alternative Credit.
The loan and financing are slated to advance the overall capacity of Silfab’s cell production and PV module manufacturing within its South Carolina facility, scheduled to be operational by the end of this year.
Sustainable Fitch provided a second-party opinion on the loan and considers the transaction to be structured in line with the Loan Market Association, Loan Syndications and Trading Association and Asia Pacific Loan Market Association Green Loan Principles.
“American-made clean energy is and will remain in huge demand,” says Paolo Maccario, Silfab president and CEO.
“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 U.S.-made PV modules,” says Paolo Maccario, Silfab president and CEO.
“Silfab’s growing U.S. footprint and increase in domestic content means more jobs for Americans and a lower carbon footprint compared to imported panels.”
Norton Rose Fulbright acted as legal counsel to Silfab. Kirkland & Ellis acted as legal counsel to Breakwall Capital. Stikeman Elliott acted as legal counsel to ARC Financial. RCT Solutions acted as the independent engineer for Breakwall.
The post Silfab Solar Raises $100M to Scale Domestic Cell Manufacturing Facility appeared first on Solar Industry.
Silfab Solar Raises $100M to Scale Domestic Cell Manufacturing Facility
Barack Obama read the actual GOP agenda to a roaring Atlanta crowd Wednesday: a $1 trillion tax cut for millionaires and billionaires, paid for with higher health care costs and Medicaid cuts. Plus a war in Iran that everyone warned would push prices up. “(Democrats will) ban hamburgers and make everybody eat tofu,” he joked.
The meme here makes sense–until you realize that the most productive, happiest people on Earth live in Scandinavia and the other social democracies scattered around the globe.
Providing everyone with the opportunity to succeed seems to work quite well in the real world.
Weather Guard Lightning Tech
How Startups Find Problems Worth Solving, w/ Teemu Vekkeli
Teemu Vekkeli, Principal at Vekkeli Advisory, joins to discuss VC versus bootstrapping, budget cycles, and problems worth solving. Plus why trust drives sales in Japan, what site technicians know, and why every pitch eventually has to convince the CFO.
The Uptime Wind Energy Podcast is brought to you by Weather Guard Lightning Tech, creators of the StrikeTape Ultra LPS retrofit. Subscribe to Uptime’s Substack newsletter. And check out Rosemary’s “Engineering with Rosie” Youtube channel. Have a question we can answer on the show? Email us!
-
Climate Change1 year ago
Guest post: Why China is still building new coal – and when it might stop
-
Greenhouse Gases2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Greenhouse Gases1 year ago
Guest post: Why China is still building new coal – and when it might stop
-
Climate Change2 years ago嘉宾来稿：满足中国增长的用电需求 光伏加储能“比新建煤电更实惠”
-
Renewable Energy1 year agoSending Progressive Philanthropist George Soros to Prison?
-
Climate Change2 years ago
Bill Discounting Climate Change in Florida’s Energy Policy Awaits DeSantis’ Approval
-
Greenhouse Gases1 year ago
嘉宾来稿：探究火山喷发如何影响气候预测
-
Climate Change2 years agoAnalysis: China’s CO2 falls 1% in Q2 2024 in first quarterly drop since Covid-19