Silfab secures strategic growth investment by ARC Energy and partners with BayWa r.e. for module distribution
Post date: 20/09/2021 - 11:33
Canadian module manufacturer Silfab Solar Inc. announced an investment of undisclosed amount by energy-focused private equity fund managers ARC Financial Corp. to significantly expand its US solar production. Silfab is the first energy transition investment from ARC’s Energy Fund 9, and includes co-investments by Ontario Power Generation Inc. Pension Plan and BDC Capital’s Cleantech Practice.
Silfab manufactures back-contact and mono passivated emitter and rear contact (PERC) PV modules for the North American residential and commercial markets in Toronto and the USA. According to Paolo Maccario, Silfab’s Chief Executive Officer, the investment »provides growth capital that enables Silfab to increase domestic production and sourcing, and opens additional doors to new generations of modules.«
Nearly simultaneously, Silfab and Canadian BayWa r.e. Solar Systems Inc., subsidiary of German BayWa r.e. AG, announced their partnership to distribute high-performance »Made in North America« solar modules to the Canadian market. According to the companies, Silfab’s commitment allows BayWa r.e. »to expand its product offering to solar contractors who need proof of domestic products, such as government projects, or who choose to offer domestic modules as a differentiated option to their customers.« This follows BayWa r.e.’s recent announcement of its partnership with Silfab Solar in the US market.
In late August, Silfab announced that ultra-high efficiency solar modules are now being shipped from its latest U.S. manufacturing facility in Burlington, Washington, which is Silfab's third in North America. It is initially focused on producing the company's newest »Prime 370wt« series.