Recently, foreign media reported on June 8 that. Suniva, a veteran photovoltaic cell manufacturer in the United States, and residential and commercial solar systems, SUNation Energy , a provider of battery energy storage solutions and integrated energy services, signed a merger agreement to build a solar manufacturing and service platform in the United States.
Under the agreement, Suniva will merge with a wholly owned subsidiary of SUNation, and the combined company is expected to operate under the Suniva name and continue to be listed on the Nasdaq Capital Market. Upon closing, shareholders of pre-merger Suniva will own approximately 98.2% of the combined entity and shareholders of SUNation will own approximately 1.8% of the combined entity, subject to adjustments based on SUNation's net cash position at closing.
The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2026.
Suniva, headquartered in the Atlanta, Georgia metropolitan area, was the oldest and largest solar cell manufacturer in the United States. Founded in 2007 , the company built its first plant and expanded to 450 MW capacity in 2008. However, due to lack of competitiveness, Suniva filed for bankruptcy in 2017, and the Georgia plant was closed, and then continued to idle. In 2023, Suniva announced the restart of the Georgia plant after a seven-year shutdown.
As the only crystalline silicon solar cell manufacturer owned and operated in the United States, Suniva now has about 1G W solar cell capacity in Georgia, and announced plans to add 4.5g W capacity in South Carolina in April 2026, which is expected to be fully operational in 2027. By then, the target total production capacity will exceed 5.5G W.
SUNation was founded in 2003. In 2022, Pineapple Energy acquired SUNation and eventually adopted the name of SUNation.
The transaction combines Suniva's solar cell manufacturing capabilities in the United States with SUNation's downstream installation, service and energy solutions business. SUNation's residential, commercial, storage and services businesses in high-cost markets provide a ready pipeline for delivering Suniva's U.S.-made cells to end customers, with the aim of strengthening Suniva's supply chain resilience in the U.S. market and expanding the reach of domestic solar solutions.
According to local media data, the United States currently has about 59 GW of solar module assembly capacity, but the actual operating battery capacity is only about 3 GW, leading module manufacturers to rely heavily on imported batteries. Suniva plans to become the leading domestic solar cell supplier in the next decade, serving a market of more than 500GW.
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