Silfab Solar Secures $100M Financing to Scale Solar Manufacturing Plant

Silfab Solar Inc., a leading photo-voltaic module manufacturer in North America, has closed on $100 million of new financing to scale its state-of-the-art solar cell manufacturing plant. The $50 million equity investment was led by funds advised by ARC Financial Corp., with additional investment from existing co-investors. The company also raised a $50 million senior secured financing led by Breakwall Capital and included an investment from SR Alternative Credit LLC. This financing will advance Silfab’s cell production and PV module manufacturing within its new facility in Fort Mill, South Carolina, and to reshore US-made solar products. 

Silfab's newest US facility is scheduled to be operational by the end of this year. Sustainable Fitch provided a second-party opinion on the Green Loan, aligning with green loan principles. Legal counsels to Silfab, Breakwall Capital, and ARC Financial were provided by Norton Rose Fulbright LLP, Kirkland & Ellis LLP, and Stikeman Elliott LLP, respectively. 

Silfab Solar is set to manufacture solar cells and PV modules in Fort Mill, South Carolina and is known for its high-efficiency, premium quality PV modules. ARC Financial Corp. is a private equity firm focused on energy and sustainability needs. Breakwall Capital is an energy specialist offering direct lending capital solutions, and SR Alternative Credit LLC is a boutique investment management firm based in Darien, CT, managing multiple funds invested in senior-secured lower-middle market asset-backed loans.