Suniva Inc., a manufacturer of monocrystalline silicon solar cells and modules, has been selected for the U.S. Department of Energy's (DOE) loan-guarantee program under the DOE's Innovative Energy Efficiency, Renewable Energy and Advanced Transmission and Distribution Technologies Solicitation.
Upon the completion of the DOE's due diligence and subject to the successful negotiation of the terms of a loan for approximately $141 million, Suniva plans to start the construction of a new manufacturing plant in Saginaw County, Mich.
The loan guarantee will enable Suniva to more than triple exports over the next five years, the company says. Last year, Suniva exported more than 90% of its products to Asia and Europe.
SOURCE: Suniva Inc.