Suniva announced the completion of an $835 million capital raise, as reported by businesswire.com. The company stated the funds will finance construction of a second major solar cell manufacturing facility in the United States.
What it means
The investment supports a significant expansion of domestic production capacity. Suniva said total output capability will rise to 5.5 gigawatts, more than quadrupling previous levels. The new facility marks the company’s second major manufacturing site in the U.S., increasing its footprint in solar cell production.
Key facts
- $835 million raised by Suniva
- Funds designated for second U.S. solar cell plant
- Total capacity to reach 5.5 GW
- Capacity increase represents more than a fourfold jump
Source: Suniva news release (Business Wire)