Silfab Solar, a Canada-based manufacturer of solar cells and modules, has sold up to $110 million in transferable Section 45X Advanced Manufacturing Production Tax Credits. The credits, part of a US federal incentive, allow clean energy manufacturers to raise capital by selling them to third parties. Silfab stated that the sale will fund its ongoing expansion of US solar manufacturing capacity and infrastructure. The company operates a South Carolina facility with an output of 1 GW in solar cells and 1.3 GW in PV modules. It also runs a 1.1 GW PV module plant in Burlington, Washington, contributing to the domestic solar supply chain. BDO USA advised the company during the transfer process, which supports US efforts to boost domestic clean energy manufacturing and reduce reliance on foreign supply sources.
Silfab Solar sells $110M tax credits to fund US expansion
Up to $110 million in Section 45X tax credits was sold by Silfab Solar to third parties, to support its solar manufacturing expansion in South Carolina and Washington.
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