Suniva Secures $835M for New Solar Cell Plant in South Carolina
US-based solar company Suniva has raised $835 million through a mix of debt and equity to construct a new solar cell manufacturing facility in Laurens County, South Carolina. The project is expected to increase the firm's total US production capacity from its current 1GW to 5.5GW by late 2027, with full production ramp-up anticipated for 2028. The funding includes contributions from major investors such as Lion Point Capital and credit facilities arranged by Goldman Sachs Alternatives and I Squared Capital. The new plant will create approximately 564 jobs in the region and is part of Suniva's broader strategy to expand its domestic manufacturing footprint, complementing its existing facility in Georgia. Suniva has also secured long-term supply agreements with US solar companies for much of its planned output. In June 2026, it announced a reverse merger agreement with SUNation Energy (NASDAQ: SNE), which will allow the combined company to continue trading on Nasdaq under the Suniva name.
Topics: Manufacturing Expansion Private Equity Investment Solar Energy