Image credit: Steve Saia / Solar rising
Solaria Corporation is to work towards a doubling of its panel manufacturing capabilities this year, a push financed by a new capital raise.
The Californian panel maker recently bagged US$40 million from individual investors, including a solar-focused duo – T.J. Rodgers and Isidoro Quiroga – who joined the firm’s board of directors after the transaction.
“I have the privilege of seeing and evaluating a wide range of solar technologies, and it quickly became clear to me that Solaria’s approach is unparalleled,” said Rodgers, who founded Cypress Semiconductor Corp. in 1982 but was controversially ousted as the firm’s CEO in April 2016.
Should Solaria succeed in doubling production by the end of 2019, it would mark the second time the Oakland-headquartered panel maker reaches the milestone in the space of a year.
In mid-February, the firm claimed its production was to increase two-fold after signing a deal to supply its PowerXT panels via the facilities of South Korean player Shinsung E&G.
Founded in 2000 in New Mexico, Solaria transferred operations to Silicon Valley in 2003. It started up a solar tracker production business in 2011, which became standalone unit NEXTracker in 2013 and was acquired by Flextronics two years later.
Meanwhile, Solaria's panel-making business goes back to 2006, when it built its first production line for utility-scale solar applications. The transition to residential and commercial systems would come in 2014, after NEXTracker's spin-off.
US solar prospects will take centre stage at Solar Media's Solar & Storage Finance USA, to be held in New York on 29-30 October 2019
The USA solar pipeline hit 9.8 GW in August 2019, according to market analysts, Wood Mackenzie so what does this mean for the solar sector moving forward? Are module shipments constrained? Have manufacturers raised prices for late-comers? What impact will this have on 2020 projects and what can we expect for the ITC negotiations? These questions and more will be discussed in this informative, free webinar. - With almost 10 GW of solar pipeline, how is this affecting the supply chain and cost for panels? - How likely is it that the ITC will be renewed, what trends are emerging in terms of beating the step down? - How helpful are emerging trends and technologies (e.g. bifacial panels, floating solar, data aggregation and management) in helping to beat the ITC step down? - Trade wars: what impact did section 201 have on the market, and what could we expect moving forward This webinar acts as a primer for the Solar & Storage Finance Summit which takes place on 29 & 30 October in New York City.
Now in its sixth successful year, Solar & Storage Finance USA is the only event which looks at raising capital for solar, storage and collocated solar and storage projects in the USA. The conference will help delegates understand how providers are evolving propositions for storage and how they can access capital for standalone solar or storage, and co-located projects. Meet debt providers, funders, utilities, corporate off takers and blue chip energy firms with capital to invest and developers with credible pipelines.