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
Here’s Lucy Biggers, social media powerhouse, explaining how solar and wind energy actually aren’t free, because they require materials that need to be mined from the Earth.
Yes, Lucy. I think most of us already knew that.
It’s hard for me to understand how a person with zero training in science has any relevance to what climate scientists are telling us. If I want a good recipe for carrot soup, I don’t ask a baseball coach or an auto mechanic.
They call this woman an “influencer.” What type of idiot does she influence?
Yes, part of this is stupidity. But a larger part is that people who still support Trump at this point are desperate to believe whatever comes out of his mouth, regardless of how nonsensical it may be.
I wish my mother were still here so I could see where she would stand. She was extremely well-educated, and a voracious reader, but somehow remained a Fox News viewer until the end. I just wonder if the last 15 months may have turned her around.
Those who stand in opposition to the president have dozens of different reasons for their feelings. One, as is on display here, is that he’s an ignoramus.
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