Green technology company that manufactures solar panels SoloPower has secured $20 million loan to build a manufacturing facilities in Oregon. Solo Power will be manufacturing thin film solar technology in Wilsonville. Oregon.
The initial phase of this expansion will be the construction of a 75 MW manufacturing line which will create 170 new jobs.
Today the Small Scale Energy Loan Program (SELP) Advisory Committee recommended approval to the Oregon Department of Energy for a $20 million loan to SoloPower. SoloPower has also applied for a Business Energy Tax Credit (BETC) of $20 million from the State of Oregon. These State programs will enable the company’s efforts to rapidly scale up production, while providing an economic boost to the community, creating jobs, and supporting local businesses. Simultaneously, SoloPower is in discussions with the United States Department of Energy to obtain a loan guarantee under Section 1703 of the Energy Policy Act of 2005 to support the construction of the additional production lines.