To lead this ambitious initiative and advance towards the planned commercial launch in early 2029, Sunwafe has appointed Michael Pinto, an international executive with extensive industrial and business experience, as its CEO, effective March 2nd. Under Michael Pinto's leadership, the company is now entering an execution phase focused on several key areas, including consolidating industrial alliances, assembling the management team, raising capital, and planning its operational presence in Spain. Furthermore,
Sunwafe has strengthened its industrial plan through a strategic alliance with Tresca, a Spanish engineering company with 25 years of experience managing complex industrial infrastructure projects in 20 countries. Tresca will assume overall project management, as well as the basic and detailed engineering for the future 20 GW silicon ingot and wafer plant in Asturias, Spain. Sunwafe was created by InnoEnergy in 2024 with the aim of establishing a globally competitive silicon wafer manufacturer in Europe. Its creation responds to a profound shift in the European industrial and geopolitical landscape: currently, over 90% of global wafer production is concentrated in Asia, placing Europe in a critically dependent position for a strategic link in the clean energy value chain. Closing this gap requires not only financial investment but also a comprehensive approach to fostering new industrial leaders. That is precisely the basis of InnoEnergy's strategy, focused on identifying structural deficiencies in the market and creating companies from scratch together with industrial, financial and technological partners.
Sunwafe is building on this strong track record to rebuild a resilient and competitive wafer manufacturing base in Europe. “This is undoubtedly a pivotal moment for Europe and the global energy transition. As Europeans, we must ask ourselves what energy security truly means and what role we want clean energy to play in our shared future. By carefully crafting mutually beneficial agreements with selected strategic partners in Asia, Sunwafe is committed to building a world-class, advanced manufacturing facility that will successfully relocate wafer production as a key industrial capability to Europe,” commented Michael Pinto, CEO of Sunwafe. By 2025,
Sunwafe received a €200 million non-repayable grant from the Spanish Government under the Recovery, Transformation and Resilience Plan (PRTR) through the RENOVAL program for renewable energy value chains, supported by the European Union's Next Generation EU funds. This underscores the project's strategic importance for Spain and Europe. Taken together, these developments allow Sunwafe to begin implementing its business plan on a solid foundation.
The company expects to reach an annual production capacity of 2.5 billion silicon wafers by 2030, equivalent to 20 GW, which would represent up to 50% of the projected annual demand for wafers in Europe at that time. The company plans to make the final investment decision in February 2027, with construction scheduled to begin in 2027 and commercial operations commencing in early 2029. At full capacity, the project could generate up to 2,600 jobs. “Sunwafe addresses one of the most critical missing links in the European photovoltaic value chain.”.
“Industrial projects of this scale only succeed when a systemic approach is adopted, bringing together the right industrial, financial, and technological partners from the outset,” stated Sébastien Clerc, CEO of InnoEnergy. With the industrial-scale manufacturing of silicon ingots and wafers, Sunwafe is driving the development of a new generation of high-performance, traceable, and low-carbon photovoltaic technologies. This approach strengthens the competitiveness of European and international manufacturers and contributes to reinforcing the industrial base in Europe.
