North American solar maker Silfab gets investment for expansion

Sep 17, 2021 02:15 PM ET
  • Canadian solar (PV) module maker Silfab Solar Inc on Wednesday claimed it has actually obtained a calculated growth financial investment led by personal equity fund supervisor ARC Financial Corp
North American solar maker Silfab gets investment for expansion
Image: Silfab Solar Inc

The funding is meant to dramatically broaden Silfab's production and supply chain impact in the United States, according to the statement.

The solar supplier did not disclose the size of the financial investment, nor did it clarify on its development strategies. It lately revealed the opening of a solar module production facility in Burlington, Washington State, representing its third center in The United States and Canada.

The deal marks the initial energy change investment for ARC's Energy Fund 9. Co-investors are Ontario Power Generation Inc Pension Plan and also the Cleantech Practice of BDC Capital, the financial investment arm of BDC, the financial institution for Canadian business owners.

"Based on current demand forecasts for PV solar, Silfab is ideally placed for considerable development and this financial investment guarantees the company is effectively taken advantage of to execute on its plan," claimed ARC chief executive Brian Boulanger.

Silfab makes back-contact and mono passivated emitter as well as rear get in touch with (PERC) PV modules for the residential and also business sections. This week it was additionally revealed that BayWa r.e. has actually ended up being a distributor for Silfab in Canada, after the business recently developed a partnership in the US.

BayWa r.e. will certainly have the ability to offer Silfab's "Made in North America" modules to solar professionals that require residential products, as an example for federal government projects, or wish to use residential modules to their customers.

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