Financing ·
SUNation Energy, Inc. filed a Form 8-K to furnish a press release issued by Suniva, Inc., its proposed merger partner…
SUNESUNation Energy, Inc.
SUNation Energy, Inc. filed a Form 8-K to furnish a press release issued by Suniva, Inc., its proposed merger partner, announcing the completion of an $835 million capital raise. The financing, comprising senior secured credit facilities from Goldman Sachs Alternatives and I Squared Capital, second lien debt from JBA Asset Management, and equity investments from Electron Capital Partners, Orion Infrastructure Capital, and Rubric Capital, will fund the construction of a new 4.5 GW solar cell manufacturing facility in Laurens County, South Carolina. This expansion aims to quadruple Suniva's total U.S. capacity to 5.5 GW, building on its existing 1 GW Norcross, Georgia operation, with completion expected in late 2027 and full ramp in 2028. SUNation Energy operates in the renewable energy sector, providing residential and commercial solar installation systems, battery storage solutions, and related energy services.