US Markets
Home›US Markets›M&A & Deals›Suniva raises $835m for new solar cell plant in South…
Suniva raises $835m for new solar cell plant in South Carolina
The new facility is expected to add 4.5GW of monocrystalline silicon cell capacity and bring 564 jobs, with construction targeted for completion by late 2027.
US-based solar manufacturer Suniva has completed an $835m capital raise to fund construction of a new solar cell manufacturing facility in Laurens County, South Carolina, according to Yahoo Finance.
The financing includes both debt and equity and is designed to more than quadruple Suniva’s US output, with an expansion target that would lift total US manufacturing capacity to 5.5GW.
Suniva says the South Carolina plant should add 4.5GW of monocrystalline silicon solar cell capacity when fully operational, and it expects to complete the 621,468 square foot facility by late 2027, followed by a production ramp-up in 2028.
The project is described as around $600m in investment and is expected to create 564 new jobs in the region, as the company pairs production from its existing Norcross, Georgia, site, which currently produces 1GW, with the upcoming Laurens County capacity.