SolarEver Group announced a new multi-million dollar investment in Durango as it seeks to expand domestic renewable energy and electromobility manufacturing.
With an investment of P3.4 billion (US$197.9 million), the solar panel manufacturing company recently announced plans to build a solar cell and panel factory. Electric vehicle assembly plant announced earlier this monthalso located in the Northern Province.
According to Grupo Solarever President Simon Zhao, the company's market can benefit from Mexico's current business conditions: a strong manufacturing industry and abundant investment opportunities.
“This investment marks an important day for Durango, for Mexico and for the world in fulfilling our mission to transition from traditional energy sources to more sustainable energy sources,” said Zhao. he said.
The 1.2 gigawatt (GW) solar cell and panel plant will be the company's fourth solar panel manufacturing plant in Mexico and the largest on the North American continent, according to Forbes Mexico.
Covering 13.6 hectares in Parque Industrial CLID in Durango, the Solarever solar panel factory will create 600 jobs and will be developed in phases. It starts with the production of solar cells and panels, and later expands to the development of storage batteries.
With this factory, SolarEver will manufacture and export more than 160 million cells and 1 million photovoltaic modules to the United States, Colombia, and Canada each year. Production includes PERC and TopCon type cells.
Speaking at the Durango Institute of Technology, Zhao said SolEver's mission is to “replace traditional energy with clean, renewable, intelligent and dignified energy” with products that are “competitive, innovative, and accessible.” “We want to make it available to everyone,” he said.
Carlos Gutierrez, the company's manufacturing director, explained that SolarEver plans to integrate its supply chain as the plant will distribute products throughout Mexico, from Baja California to Quintana Roo.
Announced earlier this month, the Sola Ever EV assembly plant will require an initial investment of P6.8 billion (US$395.7 million) and is scheduled to begin operations in 2025.Along with a new solar panel factory, SolaEver's investment in Durango will 10.2 billion pesos (582.5 million USD).
Founded in 2012, Solarever is one of the world's leading solar panel manufacturers and distributors with markets in Mexico, Canada, the United States, and Latin America.
With reports from forbes mexico, mexican industry and T21
