Indian solar module manufacturer Navitas Solar is launching itself in the US market with a 1.2 GW module fab where it will be known as Navitas USA by Colby, the '1st' majority black-owned solar manufacturing facility in the North American nation, with an ambition to provide 10 GW annual manufacturing capacity.
It is doing so under a strategic collaboration with Sustainable Equity and Colby Solar in a strategic initiative, along with other partners. Modules produced by the company in the American Midwest will be distributed in North America through a new entity called Geosol Global Distribution.
Talking about the Clean Energy Jobs Act (CEJA) legislation in Illinois, the CEO and Head of Impact and Sustainability for Sustainable Equity Byron DeLear said, "These favorable conditions create the perfect breeding ground for new business alliances, such as our new strategic partnership with Navitas Solar."
Navitas Solar operates a 1.7 GW annual solar module production capacity in India, to be scaled to 5 GW over the next 5 years.
In partnership with Alpha Plastomers, the company also ventured into the production of Ethylene-Vinyl Acetate (EVA) sheets for its modules. It now boasts of 1.5 GW annual production capacity for its EVA business through subsidiary Navitas Alpha Renewables Pvt. Ltd. (NARPL). The latter raised INR 70 million seed funding for its expansion, in September 2022 (see Indian Solar EVA Maker Raises INR 70 Million Funding).
As the US market becomes lucrative, both financially and in terms of growing demand thanks to the Inflation Reduction Act (IRA) and the US continuing to block Chinese modules, more manufacturers from India like Navitas will be looking at the country with interest.
Earlier in June 2023, leading Indian module company Vikram Solar announced a 2 GW module fab in Colorado, following Rayzon Solar that also wants to set up shop in the US with a 500 MW fab (see Another Indian PV Maker Heading To US).