Global clean energy provider, Shunfeng International Clean Energy, acquires majority share
NORCROSS, Ga.--Suniva, Inc., a U.S. manufacturer of high-efficiency crystalline silicon solar cells and modules, today announced that it has initiated expansion of its U.S. manufacturing capacity, bringing its U.S. total to over 400MW. This expansion is facilitated by the acquisition of a 63.13% share of Suniva by leading global integrated clean energy provider, Shunfeng International Clean Energy ("SFCE", Hong Kong-listed (stock code: 1165)).
"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."
Suniva's continued growth further strengthens its position as the leading American solar manufacturer. As a U.S.-born, U.S.-operated company, Suniva prides itself on its role of American job creation. Suniva employs the highest percentage of American workers among all other major solar module manufacturers. The new expansion will bring an additional 300 jobs to the U.S. solar manufacturing landscape.
SFCE with technology and manufacturing assets and subsidiaries in the United States, Europe, and Asia, joins a roster of shareholders, including New Enterprise Associates (NEA), Goldman Sachs, Warburg-Pincus, and Prelude Ventures. These shareholders represent one of the most financially-strong ownership teams in the renewable energy industry.
"Developing cost-effective, high-efficiency solar solutions is an essential step in solving the world's energy challenges," said Mr. Eric Luo, chief executive officer of SFCE. "Suniva manufactures the best of American solar innovation, technology, and quality. We are excited to welcome Suniva into the SFCE family, along with its high quality investor group and management team, and work with Suniva to achieve its full potential in serving the U.S. solar market."
For more information, visit www.suniva.com.
Suniva is the leading American manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells and high-power solar modules. The company is known for its high-quality products, industry-leading technology, reliability and high power density. Headquartered in metro-Atlanta, Georgia, and with manufacturing facilities in Georgia and Michigan, Suniva sells its advanced PV cells and modules globally. For additional information on how Suniva is making solar sensible, visit www.suniva.com.
About Shunfeng International Clean Energy Limited
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the largest low-carbon, integrated, clean energy generation provider globally. Through strategic acquisitions and integrations, SFCE owns a number of well-known product and technology brands in the industry. SFCE fosters continuous improvement in energy generation including in solar, sea water power and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households. SFCE's energy solutions can achieve energy cost reductions of 50% - 70%, creating energy generation choices for its customers to reduce both carbon emissions and energy costs.