India’s Navitas Solar is setting up a 1.2 GW per year module manufacturing facility in USA through a strategic collaboration with local partners, including Sustainable Equity and Colby Solar. The facility, Navitas Solar USA by Colby, will come up in the American Midwest and be scaled to 10 GW capacity within a few years.
This partnership will further bolster Navitas Solar’s international presence by distributing Navitas Solar modules in North America through a new entity, Geosol Global Distribution. Colby Solar is one of the important shareholders in Navitas Solar USA by Colby.
The US solar market environment is better than ever, with a bright PV sector outlook and multiple State-level leadership initiatives. In particular, the State of Illinois’ Clean Energy Jobs Act (CEJA) legislation features strong equitable workforce development incentives for renewable energy companies in Illinois.
“The CEJA legislation, with its comprehensive approach to advancing clean energy, renewable resources, and environmental equity and inclusion, aligns with our core values and commitment to promoting clean energy and innovative solutions,” said Lloyd Wynn of Colby Solar.
“These favorable conditions create the perfect breeding ground for new business alliances, such as our new strategic partnership with Navitas Solar,” said Byron DeLear, chief executive officer and head of impact and sustainability for Sustainable Equity.
The US solar PV sector has been surging over the last several years. From a cumulative capacity of 32.96 GW in 2016, America’s solar industry has soared to a staggering 111.25 GW by the end of 2022 with an impressive compound annual growth rate (CAGR) of 22.5%.
Navitas Solar has a module manufacturing capacity of 1.7 GW per year in India and plans to reach 5 GW annually within the next five years. It also produces ethylene-vinyl acetate (EVA) sheets, a key component needed for solar module manufacturing, through its subsidiary Navitas Alpha Renewables.
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