Suniva lands $141M in DOE loan guarantees, plans construction of 400MW PV cell factory in Michigan

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Suniva has been selected by the U.S. Department of Energy Loan Guarantee Program to receive a loan of approximately $141 million, joining Solyndra and BrightSource as solar beneficiaries of the program. Once DOE completes its due diligence and subject to the successful negotiation of the loan terms, Suniva plans to leverage the loan to help it start construction of a new $250 million, 400MW solar-cell manufacturing plant in Saginaw County, MI.

 

 

 

 

 

 

 

 

 

Plans for Suniva’s Saginaw plant were originally announced in October, with the go-ahead contingent on the company’s receipt of the DOE loan guarantee.

The state of Michigan has also pledged to kick in some $15 million in tax credits over the next five years. In addition, the company will receive $5.7 million in U.S. Recovery Act Advanced Manufacturing Tax Credits to expand its solar cell manufacturing fab in Norcross, GA.

John Baumstark, chairman/CEO of Suniva, told Reuters that the solar-cell manufacturer is sold out through 2010. The news organization also reported that the Saginaw factory will become operational in 2011; once the plant is fully ramped, the company will have approximately 600MW of combined manufacturing capacity at both of its facilities.

A company source told PV-Tech at Greentech Media’s solar summit in Phoenix last week that workers are “knocking down walls” in Norcross as construction of Suniva’s third manufacturing line—with a 70MW capacity–has moved forward. Once completed, the new Norcross line will bring the site’s capacity up to 175MW.

He added that the firm is filing “more intellectual property” and expects to commercialize its “second-generation cell design” in the fourth quarter. 

The Saginaw plant could create approximately 500 direct jobs at Suniva, while fostering an additional 2000 indirect jobs for the Michigan economy, according to the Michigan Economic Development Corp.

Suniva said that the loan guarantee will enable the company to more than triple exports over the next five years; last year, it exported more than 90% of its products to Asia and Europe. Customers include Solon, Titan Energy, 1 Soltech, and SBM Solar.

Another solar manufacturer planning to build a plant in Saginaw, module maker GlobalWatt, has said it will use Suniva’s PV cells, while Ontario module start-up Heliene Canada has also stated that it has selected Suniva’s devices for integration into its c-Si panels.

The company landed $75 million in a financing round in 2009, funds designated to help Suniva build out its manufacturing capacity. Baumstark told Reuters that there are no plans for the company to go public at this time.

6 July 2021
Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam.
13 July 2021
Energy Next is a new industry exhibition focusing on the latest renewable energy and energy efficiency technology, which will be held for the first time in 2021 in Sydney, Australia alongside the Clean Energy Council’s Australian Clean Energy Summit, the peak gathering of leaders driving Australia's energy transformation. Organised by the same people behind Australia’s largest clean energy event, All-Energy Australia, Energy Next will give visitors two days of access to key suppliers in the industry, free-to-attend professional development and industry workshops, and networking opportunities to better understand clean energy issues and solutions and learn about the latest developments in this transformational, dynamic sector.
24 August 2021
Join us to hear directly from the CTOs and heads-of-research from the top-20 cell/wafer producers to the PV industry today. You'll find out which companies are investing and what technologies and cell architectures are being primed for multi-GW production and gather key market intel around wafer supplier trends for cell manufacturing, including which format/wafer-size is likely to dominate 3-5 years out.
25 August 2021
The Intersolar Summit Brasil Nordeste takes place in Fortaleza, Brazil. It addresses leading local and international experts on solar power and renewable energy in the region. The Summit’s mission is to provide in-depth education, enable high-quality networking opportunities, expand the use of PV technologies at regional and national level and strengthen the local PV industry. The Intersolar Summit Brasil Nordeste is organized by Intersolar South America - Latin America’s largest exhibition and conference for the solar industry: Solar Promotion International GmbH, Pforzheim, Freiburg Management and Marketing International GmbH (FMMI) and Aranda Eventos & Congressos Ltda, São Paulo as co-organizer.
6 September 2021
The 38th European Photovoltaic Solar Energy Conference and Exhibition will be held online from 6 - 10 September 2021, allowing PV experts from all around the globe to participate with just one click! The EU PVSEC is the world's leading forum for PV Research and Development and the biggest Conference on PV Solar Energy worldwide. That is why PV experts from all around the globe are keen on gathering together each year to be part of this specialist’s event, to present and discuss the latest developments in Photovoltaics, to network and to conduct business.
7 September 2021
Intersolar Mexico sits at the cross-section of photovoltaics, solar heating & cooling technologies, and energy storage. The event serves as the industry’s go-to source for invaluable technology trends and premier B2B contacts in the promising Mexican solar market. In its second edition from September 7–9, 2021 Intersolar Mexico together with the co-located The GREEN Expo® and Aquatech Mexico will move to a new venue – Centro Citibanamex.

Read Next

June 18, 2021
The Federal Energy Regulatory Commission (FERC) this week presented a draft order aimed at establishing a joint Federal-State task force on electric transmission
June 18, 2021
Horizon Power and PXiSE Energy Solutions have successfully powered the Australian town of Onslow with completely renewable energy, demonstrating the potential of microgrid technology
June 18, 2021
Spanish utility Acciona has set a price range for its planned initial public offering (IPO) of its renewables division of up to €29.76 (US$35.36), potentially valuing the business unit at as much as €9.8 billion (US$11.6 billion).
June 18, 2021
UNOPS Sustainable Investments in Infrastructure and Innovation (S3i) has signed an agreement to invest in a 250MW solar plant in Rajasthan, India
June 18, 2021
Lightsource BP has added 703MW to its Spanish pipeline through the acquisition of projects from Grupo Jorge, bringing its total pipeline in Spain to 3GW.
June 18, 2021
Diode Ventures has announced financial close of its Grizzly Ridge Solar Project, a utility-scale solar project with 138MWdc capacity which will serve the ERCOT North Zone in Texas.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021