Suniva's new manufacturing facility in Thomas Township, Saginaw County will be receiving funding of $250 million from the state of Michigan, which is to go toward the development of photovoltaic (PV) cell manufacturing.

Nearly 500 jobs are expected to be created by this investment, if the Department of Energy (DoE) gives the expected loan guarantee.

In its current 100 MW facility in Georgia, Suniva manufactures and markets high-efficiency cells and markets high-power density modules. NEA, Warburg Pincus and Goldman Sachs are some of Suniva's investors.

The Michigan Economic Growth Authority (MEGA) has given approval for a photovoltaic Michigan Business Tax (MBT) credit valued at $15 million over five years. A refundable tax credit for the construction and operation of a facility that develops and manufactures photovoltaic technology, photovoltaic systems or photovoltaic energy, will be provided by this MBT credit.

[Via: CleanTechBrief]