U.S. power producers in $6 bln plan to boost solar supply chain

AES Corporation said it had joined Clearway Energy Group, Cypress Creek Renewables and DE Shaw Renewable Investments in the U.S. Solar Buyer Consortium in an effort to address current supply chain issues. The consortium will invest $6 billion as it seeks solar panel manufacturers in a long-term strategic plan to supply up to 7 GW of solar modules per year from 2024.

A group of U.S. power producers on Tuesday have formed a consortium to spend about $6 billion to support expansion of the domestic solar supply chain. AES Corporation said it had joined Clearway Energy Group, Cypress Creek Renewables and DE Shaw Renewable Investments in the U.S. Solar Buyer Consortium in an effort to address current supply chain issues.

The consortium will invest $6 billion as it seeks solar panel manufacturers in a long-term strategic plan to supply up to 7 GW of solar modules per year from 2024. U.S. President Joe Biden this month waived tariffs on solar panels from four Southeast Asian nations for two years and invoked the Defense Production Act to spur solar panel manufacturing at home.

 

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