Related Links

News

GM invests in solar power developer Sunlogics

General Motors Ventures has made a US$7.5 million equity investment into Sunlogics and signed commercial agreements with the solar developer.

By Isabella Kaminski

According to General Motors Ventures, the US$7.5 million (£4.6m) investment into Sunlogics will create 310 jobs. The company has also signed commercial agreements with Sunlogics for the installation of solar charging canopies at Chevrolet dealerships and GM facilities, as well as a power purchase agreement to install large-scale solar arrays at GM facilities and to buy the energy produced by these arrays.

Sunlogics will use some of the funding to establish its corporate headquarters and open a manufacturing facility in suburban Detroit, and to set up a manufacturing facility in Ontario.

Michael Matvieshen, CEO of Sunlogics, says: “GM’s solar expansion and financial commitment provides a firm foundation for the growth of Sunlogics business worldwide and will bring more sustainable green energy to GM operations.

“The partnership provides a new level of opportunity to the larger scale industrial solar projects Sunlogics designs, manufactures and constructs.”

Jon Lauckner, President of GM Ventures, says: “Global solar energy use is predicted to more than double by 2016, so we believe that investing in renewable energy is a smart and strategic business decision.

“The investment in Sunlogics allows GM to strategically partner with a leading solar developer and operator that can help GM drive the use of solar, specifically large-scale solar installations at our facilities.”

GM has also committed to its doubling solar output globally from 30 MW to 60 MW by the end of 2015. The company already has three automotive rooftop solar power installations in the US and another at its car assembly plant in Zaragoza, Spain. Additionally, GM started construction on a new solar field at its Detroit-Hamtramck facility and completed construction on a solar array on top of its Baltimore operations facility.

Share this article

More services

 

This article is featured in:
Policy, investment and markets  •  Solar electricity

 

Comment on this article

You must be registered and logged in to leave a comment about this article.