July 12 (Solar) – Solargise Canada Inc, a unit of UK-based Solargise Ltd, is considering investing CAD 2.3 billion (USD 1.7bn/EUR 1.5bn) to start production of new generation plastic-free photovoltaic (PV) panels in Quebec or Ontario.
The company said in a press statement on Wednesday that it is currently assessing sites east of Montreal, Quebec as well as three other locations in Ontario. It will back the project with already “assured” financing worth USD 878 million (EUR 751m), of which some USD 260 million will be provided from its own resources. The remaining financial package will be completed soon.
The so-called "Sand to Power" manufacturing complex will be installed in two separate phases. The first one will involve the construction of ingot, wafer, PV cell, plastic free PV module and glass plants, which will be followed by the establishment of a purity semiconductor-grade polysilicon plant and a metallurgical grade silicon (MgSi) plant in the second phase.
Solargise said the selected site for the project must have access to power of 550 MW and be located close to a railway and a port and research universities. If the identified location is in Quebec, Solargise will move its research facilities from Europe to Montreal, it said.
The UK company is mainly involved in solar park installation in India, where it says it is developing gigawatt-scale plants, and plans to deliver equipment for projects in the Asian country from the new Canadian base.
(CAD 1.0 = USD 0.758/EUR 0.649)
(USD 1.0 = EUR 0.856)