Shunfeng International Clean Energy (SCFE), a Hong Kong based solar company, has purchased a controlling interest in the American solar PV module manufacturer, Suniva. SCFE will acquire 63.13% of Suniva for a reported amount of $57.8 million.
This is but the latest in a series of moves by Southeast Asian solar companies to gain access to the growing U.S. solar market while avoiding the tariffs and duties imposed on Chinese solar companies. Other solar manufacturers that have taken action to avoid U.S. trade barriers include: Sino-American Silicon Products (SAS) building a plant in Germany; JinkoSolar opening a plant in Malaysia and Trina Solar building a plant in Thailand.
But that wasn’t to be the end of announcements regarding Suniva today. The U.S. manufacturer of high-efficiency crystalline silicon solar cells and modules, announced that it has initiated expansion of its U.S. manufacturing capacity, bringing its U.S. total to over 400MW.
“High demand for our products continues to validate that as the U.S. solar market matures, sophisticated buyers are increasingly valuing power density and quality,” said John Baumstark, chairman and chief executive officer of Suniva. “This expansion was encouraged by the U.S. market’s interest in high-quality, high-value American-made solar products.”
Tracey is an accountant and entrepreneur with a passion for nature. This passion is what spurred her interest in renewable energy, and the rest is history as they say. Tracey is a principal in Energy Think Group, the publisher of Solar Thermal Magazine and Tek-Think. She is also the principal at Women's Financial Help Desk. She spends her free time in the outdoors with her horses and dogs. She loves to travel.