DYCM Power, a US-based company, has revealed intentions to establish a 6GW solar cell and module manufacturing plant in the United States, with commercial operations scheduled to commence in the first half of 2026.
DYCM Power, a joint venture between APC Holdings and Das & Co., aims to capitalize on the favorable conditions for renewable power manufacturing in the United States following the enactment of the Inflation Reduction Act (IRA). The company plans to invest $800 million in the construction of a manufacturing facility, in collaboration with Macquarie Capital. Initially, the factory is expected to have an annual production capacity of 2GW, with plans to gradually scale up to its full operational capacity.
“The Inflation Reduction Act (IRA) has presented a distinctive opening for the United States to reclaim its position as a frontrunner in solar manufacturing,” stated Sriram Das, co-founder and executive chairman of DYCM Power. “With the backing of Macquarie Capital and our esteemed partners, we are embarking on a substantial stride towards achieving self-reliance in solar technology and bolstering America’s energy security. Simultaneously, we are establishing a fresh benchmark for quality and sustainability in the realm of solar manufacturing.”
The company is currently in the final stages of selecting a suitable site for its operations, with a focus on the southeastern region of the United States.
The company has already secured a supply agreement with a prominent US-based polysilicon provider and has also entered into a memorandum of understanding with a North American glass manufacturer. While specific details about these agreements have not been disclosed at this time, they signify important partnerships for DYCM Power. Additionally, the company has enlisted the expertise of Mortenson, an engineering, procurement, and construction (EPC) firm responsible for overseeing the facility’s construction. Furthermore, ECM Greentech Engineering will be involved in the production of silicon cells and the assembly of solar modules, further enhancing the collaborative efforts of the project.
This announcement comes amidst a rising trend of interest in the manufacturing sector within the United States. According to data from the Solar Energy Industries Association (SEIA) and Wood Mackenzie, the country’s solar manufacturing capacity has nearly quadrupled within the span of two years since the implementation of the IRA. Although certain manufacturing facilities have faced disruptions, such as Meyer Burger’s cancellation of a planned plant in Colorado, the IRA has largely proven successful in stimulating investment in domestic manufacturing.
However, on a global level, there are concerns and a sense of pessimism. Finlay Colville, head of research at Solar Media, recently wrote for PV Tech that the downturn in global PV manufacturing experienced this year may continue until 2026.
