Silfab Solar Secures $100 Million in Financing to Enhance Solar Manufacturing Operations
Silfab Solar Inc. (“Silfab”) is North America’s leading photovoltaic (“PV”) module manufacturer. The company has secured 0 million in new financing to expand its advanced solar cell manufacturing plant in Fort Mill, South Carolina. This funding will be dedicated to enhancing Silfab’s cell production and PV module manufacturing capabilities, catering to the increasing demand for USmade solar products. The goal is to reshore manufacturing and reduce carbon footprints compared to imported panels, significantly contributing to job creation in the US.
The financing comprises a $50 million equity investment, led by ARC Financial Corp. (“ARC”) with contributions from their existing coinvestors, and a $50 million senior secured financing, known as the “Green Loan,” led by Breakwall Capital. SR Alternative Credit LLC (“SRAC”) also invested in the Green Loan.
Sustainable Fitch provided a secondparty opinion on the Green Loan, rating it as “Excellent” and aligned with the principles of the Loan Market Association, Loan Syndications and Trading Association, and Asia Pacific Loan Market Association.
Paolo Maccario, Silfab President and CEO, remarked, “Americanmade clean energy is and will remain in huge demand. We are thankful for the continued support of both existing and new investors in our mission to lead the reshoring of the PV supply chain – ensuring a sustainable supply of USmade PV modules.”
Daniel Flannery, President and Managing Partner of Breakwall Capital, added, “We are thrilled to partner with Silfab as they expand their existing manufacturing capabilities, and integrate a unique operation of high quality, madeinAmerica solar cells and PV modules. As the largest private manufacturer of PV modules in North America with over a decade of successful operating experience, this capacity expansion is critical to meet the domestic content demand from its customer base.”
About Silfab Solar:
Silfab Solar is a leader in the design, development, and manufacture of highefficiency, premiumquality PV modules. With over 40 years of experience, Silfab operates stateoftheart facilities in Washington, Toronto, and soon Fort Mill, South Carolina. The company is dedicated to delivering PV modules specifically designed for the North American market. [www.silfabsolar.com](http://www.silfabsolar.com)
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