Suniva has secured $835 million debt and equity financing to support the expansion of its US solar cell manufacturing capacity. The capital will fund Suniva’s second US solar cell manufacturing facility located in Laurens County, South Carolina. The new facility has a capacity of 4.5 GW and will expand Suniva’s total US-made solar cell capacity to 5.5 GW. The facility construction is underway, with completion expected by late 2027, followed by a full production ramp-up in 2028.
The project represents an investment of approximately $600 million. The financing was secured from a consortium of financial partners, including Lion Point Capital. The funding comprised senior secured credit facilities from funds managed by Goldman Sachs Alternatives and I Squared Capital, a second-lien credit facility from JBA Asset Management, and equity investments from Electron Capital Partners, Orion Infrastructure Capital, Rubric Capital Management and other investors.
In June 2026, Suniva agreed to merge with SUNation’s wholly owned subsidiary, with the combined company expected to operate under the Suniva name. Pre-merger Suniva shareholders are expected to hold approximately 98.2 per cent of the combined company, while SUNation shareholders will hold about 1.8 per cent. The transaction is expected to close in the second half of 2026, subject to shareholder approvals and other customary conditions.