August 30 (Solar) – Canadian photovoltaic (PV) module manufacturer Silfab Solar will expand into the US, investing USD 40 million (EUR 34.2m) to acquire and expand an existing factory in Bellingham, Washington, Reuters reports.
The solar panel manufacturing facility is currently owned by Itek Energy, which will remain present at the site.
Silfab is looking to quickly increase the annual capacity of the facility in Washington to up to 350 MW from 150 MW now, spokesman Geoff Atkins was cited as saying.
Silfab adds to other companies such as Hanwha Q Cells Korea Corp and JinkoSolar Holding Co Ltd (NYSE:JKS) that have announced plans for US solar manufacturing plants after US president Donald Trump imposed tariffs on imported solar cells and modules in January. Atkins was cited as saying that the tariffs were not the main reason for the deal, although they could help make it successful.
(USD 1 = EUR 0.854)