Silfab bags another US$125 million for 1GW American PV cell factory

Facebook
Twitter
LinkedIn
Reddit
Email
Silfab’s fully automated module assembly plant in Canada. Image: Silfab.

Canadian PV manufacturer Silfab has closed a US$125 million investment led by ARC Financial Corp to fund a 1GW solar cell manufacturing facility in the US.

The funding comes as part of ARC’s Energy Fund 9 in partnership with co-investors Manulife financial corporation, Ontario Power Generation Inc. Pension Plan and others. It’s the second investment round ARC has led with Silfab, with the first in September 2021 allowing the company to expand its operations.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The facility will be Silfab’s third in the US, and will manufacture 1GW of cells as well as 1.2GW of module assembly. It’s expected to be fully operational in 2024.

“Domestic production of solar cells represents a strategic effort to further manage our supply chain and to apply our technical prowess from the ground up for a comprehensive manufacturing process,” said Paolo Maccario, Silfab’s chief executive officer.

Domestic manufacturing is the order of the day for the US PV industry following the Inflation Reduction Act and anti-dumping and countervailing duty (AD/CVD) tariff investigation, which have created a double-pronged incentive for building out a domestic production base.

A number of announcements have been made recently, with a few companies spearheading a move beyond module assembly to establish an integrated supply chain. CubicPV spoke to PV Tech Premium about its plans for a 10GW wafer manufacturing facility in the US, and Korean manufacturer Qcells has begun a US$2.5 billion process to establish an integrated ingot-module production facility.

These facilities take time, however, and research from Wood Mackenzie early this year suggested that the US short-to-medium term demand will be too great for domestic capacity to fulfil. With Joe Biden’s two-year tariff waiver expiring in 2024, time is of the essence to establish reliable supply chains within US borders.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 3, 2025
Renewables developer Madison Energy Infrastructure has bought the US distributed generation assets of NextEra Energy Resources.
October 3, 2025
EDF Renewables and Enlight Renewable Energy have advanced solar-plus-storage projects in New Mexico and Arizona.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
The US solar manufacturing industry is feeling bullish, despite the policy whiplash inflicted over the summer and the increased pressure on US solar supply chains.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland