Module manufacturer Silfab Solar announced an investment led by ARC Financial Corp. to expand the company’s U.S. solar production and supply chain footprint.
Silfab is the first energy transition investment from ARC’s Energy Fund 9, which it launched in June. It includes co-investments by Ontario Power Generation Inc. Pension Plan and BDC Capital’s Cleantech Practice. A spokesperson for ARC said the investment was in excess of $100 million. ARC is one of Canada’s largest energy-focused private equity managers, and has invested primarily in the oil and natural gas sectors.
Paolo Maccario, Silfab’s CEO said the investment will provide growth capital to help the company increase domestic production and sourcing, and enable new generations of modules.
Silfab manufactures back-contact and mono passivated emitter and rear contact (PERC) PV modules for the North American residential and commercial markets.
The company announced in late August that is had begun shipping product from its new Burlington, Washington, production facility north of Seattle. The company said the facility doubles its manufacturing capacity, bringing the total to 800 MW. Silfab said that cell sorting, glass washing, soldering, and cell alignment at the plant are all automated processes.
This article was updated on September 15 to include the size of the investment by ARC Financial.
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