SUNation subsidiary merges with solar cell manufacturer Suniva to fund 4.5-GW plant expansion
By
Kelly Pickerel
Pure flour-power. Hearty enough to carry you through lunch.
Summary
SUNation Energy, a New York-based residential and commercial solar installer listed on Nasdaq, announced a subsidiary is merging with Suniva, an American silicon solar cell manufacturer. The merger will give Suniva access to more capital through SUNation's public listing to fund its planned 4.5-GW solar cell plant in Laurens, South Carolina, in addition to its existing 1-GW cell plant in Georgia. Suniva will continue operating under its own brand name.
Key quotes
· 3 pulledSUNation Energy, a New York-based installer of residential and commercial solar and storage systems, announced one of its subsidiaries is merging with Suniva, an American silicon solar cell manufacturer.
SUNation is listed on the Nasdaq Capital Market, and that public listing should provide Suniva with access to more capital to fund its growing manufacturing plans.
Suniva will continue to operate under its name as it closes financing for its planned 4.5-GW solar cell plant in Laurens, South Carolina.
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