Cleantech America Inc., a San Francisco-headquartered developer of utility-scale photovoltaic solar farms, has received a substantial strategic investment in its Series B equity round from Wafer Works Corp., an allied Taiwan-based manufacturer of silicon wafers that has expanded its business portfolio into the solar power industry through its investment in Solargiga Energy Holdings Ltd.
‘Our business is developing a large, long-term pipeline of utility-scale renewable projects,’ notes Bill Barnes, CEO of Cleantech America. ‘Wafer Works and Solargiga provide the critical midstream components in the manufacture of highest quality crystalline silicon solar panels and as such, are in a unique strategic position to increase the efficiencies while impacting costs and supply of end-product solar panels.’
For example, he adds, Solargiga Energy Holdings has announced an agreement for significant interest in a Chinese polysilicon raw material manufacturer and plans to expand its production capacities from 200 MW to 300 MW by 2009. In addition, the company is increasing vertical integration across the solar value chain, which positions the firm to offer value to downstream partners.