PVTIME – US solar installer SUNation Energy has entered into a merger agreement with PV cell manufacturer Suniva, with the aim of establishing a unified platform that combines domestic US solar manufacturing with residential and commercial installation services.
The combined enterprise will operate under the Suniva brand and maintain SUNation’s Nasdaq listing. The transaction is expected to be completed in the second half of 2026. The provisions of the reverse merger stipulate that pre-merger Suniva shareholders will hold around 98.2% of the merged group, while SUNation investors will hold the remaining 1.8%, subject to net cash adjustments for SUNation at the time of closing the deal. The equity allocated to SUNation shareholders has an implied valuation of $2.26 per share, which is a 100% premium on the firm’s latest closing trading price.
As an existing cell supplier to the US-based module manufacturer Heliene, Suniva will extend its operational reach downstream through this corporate combination. The deal brings together Suniva’s position as America’s largest and longest-running commercial monocrystalline solar cell manufacturer and SUNation’s established market presence in the residential, commercial, and energy storage services sectors.
Both organisations have confirmed that the merger will strengthen Suniva’s market influence and grant access to US public capital markets, thereby securing the finance needed to expand domestic solar manufacturing capacity. Suniva currently operates a 1GW cell production facility in Georgia and is developing a 4.5GW capacity expansion project in South Carolina.
Scott Maskin, chief executive of SUNation, stated that combining Suniva’s domestic cell production network with his firm’s rapidly expanding service divisions in US regions with high power tariffs enables the delivery of bespoke, domestically sourced solar solutions to clients. He added that the merged entity would capitalise on SUNation’s extensive national installer partnerships and Suniva’s manufacturing footprint to accelerate the United States’ transition to a self-contained domestic solar supply chain. Suniva will appoint a five-person board to govern the post-merger company.
Tony Etnyre, Suniva’s chief executive, said the merger creates a framework to deliver the company’s core manufacturing objectives faster and on a larger scale in response to market demand. A public market listing will enable accelerated operational moves and deeper capital investment to increase critical domestic solar production capacity. Meanwhile, SUNation’s mature customer-facing operations will provide a stable foundation for future collective development.
Suniva has formalised separate agreements with module producer Heliene and domestic silicon wafer supplier Corning to manufacture fully American-sourced photovoltaic modules.
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