Suniva Completes $835 Million Capital Raise to Build Second Major U.S. Solar Cell Manufacturing Facility and More Than Quadruple Capacity to 5.5 GW

Suniva, the largest and oldest U.S. merchant manufacturer of high-efficiency monocrystalline silicon solar cells (“Suniva” or the “Company”), today announced the completion of an $835 million capital raise comprising both debt and equity financing. The financing was provided by a group of top-tier financial partners, including Suniva’s largest shareholder and long-term backer, Lion Point Capital, and consists of senior secured credit facilities provided by funds managed by Goldman Sachs Alternatives and I Squared Capital, a second lien credit facility provided by JBA Asset Management, and equity investments by Electron Capital Partners, Orion Infrastructure Capital (OIC), and Rubric Capital Management, along with certain other investors. The new capital will fund construction of Suniva’s second U.S. solar cell manufacturing facility and accelerate the Company’s rapid expansion to a total of 5.5 GW of American-made solar cell capacity, a decisive step toward U.S. energy independence. Roth Capital Partners served as lead private placement agent to Suniva. Gibson, Dunn & Crutcher LLP served as legal counsel to Roth. Rodman & Renshaw served as a financial advisor to Suniva. J.P. Morgan acted as the sole structuring agent to Suniva. Kilpatrick Townsend & Stockton LLP served as legal counsel to Suniva.

Suniva’s new 4.5 GW high-efficiency monocrystalline silicon solar cell manufacturing facility, which is currently under development in Laurens County, South Carolina, will more than quadruple its capacity, with completion expected in late 2027 and full ramp expected in 2028. The shell of the 621,468 square foot building is already complete. The fully-funded project represents an approximately $600 million investment and an anticipated 564 new advanced manufacturing jobs, creating a major industrial anchor for South Carolina’s Upstate region. Suniva’s existing, fully operational facility in Norcross, Georgia, is already delivering 1 GW of high-efficiency monocrystalline silicon solar cell manufacturing capacity. Suniva’s Laurens County, SC expansion builds directly on the operational success of its Norcross factory, pairing a fully operational facility with a major new capacity expansion, a combination unique among U.S. solar cell manufacturers.

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