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.
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Silfab Solar Raises $100M to Scale Domestic Cell Manufacturing Facility
Consider the meme here, and then remember that the nine of the ten poorest states in the U.S. (Mississippi, Louisiana, West Virgina, Kentucky, Arkansas, Alabama, Oklahoma, Tennessee, and South Carolina) are all bright red.
How do they get away with stupidity like this?
Well, there’s the bottom of the state rankings for education:
- 46. Mississippi
- 47. Kentucky
- 48. Louisiana
- 49. Arkansas
- 50. West Virginia
Do you see any correlation?
Republican Operatives Are Tenacious as Messaging–And Truth Has No Bearing on It
Good question here at left.
To me, it depends.
If the person seems intelligent enough to be able to hold a thought in his head that opposes his current beliefs, I’d actively encourage the discussion. Otherwise, I’m out. No need to raising someone’s temper for no reason or gain.
To the jackass who sent me the meme here: What about the 5 million Americans who moved to Canada? What about the steady flow of Americans expatriating to Costa Rica, New Zealand, Australia, Iceland and Northern Europe?
My wife and I have two kids and a grandchild in the States, and we have a gaggle of medicos to address the various health conditions associated with aging. If that weren’t the case, I’d be writing this from Stockholm or Aukland.
I wouldn’t be looking for a “utopia,” just an escape from the frustration, anger, and sadness that I feel every day, as I watch the country I love deteriorate into authoritarianism.
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