The two companies have partnered on a new venture that will bring 5 GW of solar cells and 5 GW of solar modules to U.S. and EU markets.
June 14, 2024 Anne Fischer
From pv magazine USA
Dean Solon, founder, CEO and president of Create Energy and Shoals Technologies Group, together with Hamlet Tunyan, CEO of Recom Technologies, announced the launch of ReCreate. This new venture will establish a state-of-the-art manufacturing facility in Tennessee with planned production of up to 5 GW of modules and 5 GW of cells for the North American and European markets.
The Inflation Reduction Act (IRA) of 2022 has stimulated solar manufacturing in the U.S. with production tax credits for manufacturers and investment tax credits for project developers using domestic content. Wood Mackenzie estimates 144 GW of announced module manufacturing capacity, 71 GW of cell manufacturing capacity and 61 GW of wafer manufacturing capacity by 2027. Compare this to the 26 GW of module capacity we have today, along with little or no wafer or cell production, and the 5 GW of both cells and modules anticipated from ReCreate will significantly bolster supply.
The facility is located at Create Energy’s manufacturing facility in Portland, Tennessee. Create is a U.S.-based renewable energy company founded by Solon that produces products ranging from transformers, switchgear, PV, BESS, and EV solutions as well as full turnkey EPC services. Solon is renowned for his creative leadership in the renewable energy industry, bringing over 30 years of experience driving engineering, innovation and manufacturing growth in both the U.S. and global markets.
“We’re excited to ignite the rocket engines on this new venture and deliver high-quality, American-made solar solutions,” said Solon. “At Create Energy, our mission is to ReCreate the renewables market and offer comprehensive solutions for solar, BESS, and eMobility projects. ReCreate will set the standard for the solar module and cell markets.”
Tunyan, well known in the European renewables sector, has decades of expertise in clean-tech manufacturing, project investments and development. RECOM Technologies is a module, cell, inverter, hybrid storage systems, batteries, and electrical vehicle (EV) charger manufacturer. The company integrates R&D, manufacturing and distribution, with an annual production capacity exceeding 3.2 GW and sales in over 110 countries.
Speaking on the partnership with Solon, Tunyan said, “This project represents a significant advancement in our commitment to renewable energy and innovation. By manufacturing in the USA, we are supporting the local economy and setting new industry standards. Partnering with Dean Solon, whose expertise and vision are unparalleled, enhances our capacity to deliver exceptional solar solutions and drive meaningful change in the energy sector.”
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