Panasol was recognized for its “groundbreaking work” in the solar power generation field and for setting “a new standard in the industry.”
COLLEGE STATION, Texas, Feb. 14, 2024–( BUSINESS WIRE )–PANASOLU USA LLC, a state-of-the-art solar panel manufacturing facility under construction in Texas, has been recognized with an award in the EnergyTech category at the International Trade Council’s Go Global Awards.
The 2023 Go Global Awards, hosted annually by the International Trade Council and sponsored by the Rhode Island Chamber of Commerce, brought together more than 500 companies from 83 countries and 46 government economic development agencies late last year. The event not only showcased the achievements of companies and agencies in international trade, but also served as a platform for networking and sharing of best practices.
In awarding Panasol, the judges praised the company’s vision, determination and innovation.
“The International Trade Council is proud to recognize such pioneering and environmentally conscious efforts in the solar energy sector,” said Ranjani Rangan, Chair-elect of the International Trade Council. Rangan added that the award is “a monumental achievement for Panasol and illustrates the incredible journey of innovation and resilience that characterizes this company.”
PANASOL was established through the efforts of UK-based Renergia Holdings, led by founder Ricardo Jimenez and colleague Jorge Enrique Paniagua, who began developing a solar panel manufacturing facility for the US after facing multiple backlogs from solar developers following the COVID-19 pandemic.
After the inflation control bill was passed in the summer of 2022, Renergia partnered with current partners SolCatalyst LLC and SDC Capital Ventures LLC through its US subsidiary PANASOL. In December 2022, the three partners incorporated in Texas as PANASOL USA LLC.
In early 2023, Panasol secured the land and financing and began development of the project under the leadership of Renergia and with the support of high-caliber strategic partners, primarily Ecoprogetti SRL, 149MKM and M77. The company currently expects to begin production in the second quarter of 2024.
“PANASOL’s groundbreaking efforts, especially in overcoming production delays and capitalizing on the opportunities presented by the IRA Bill of 2022, have set a new standard for the industry,” said Langan. “PANASOL is a shining example of what can be accomplished with determination, innovation and a commitment to sustainability.”
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Jimenez expressed his gratitude for the award, saying it is the result of strong collaboration with partners and different institutions over the past years.
“On behalf of the PANASOLA team, we are truly honored and grateful to receive this prestigious award from the International Trade Council,” said Jimenez, Chairman and Founder of PANASOLA. “We are a long-term partner to every customer and project we are involved in, and we are committed to making a significant impact on the U.S. solar panel manufacturing industry.”
The awards ceremony was attended by notable guests including Rhode Island Secretary of Commerce Elizabeth Tanner, US Deputy Secretary of Commerce James Golsen, and US Secretary of Commerce Gina Raimondo, who attended remotely. The event was hosted by Langan and also included other notable guests such as Canadian Senator David Wells, Viscount John Desmond Waverley of the UK Parliament, Ambassador Sven Jurgenson, and Charles Mock, Director of the International Trade Transparency Monitoring Centre.
About PANASOL USA LLC
PANASOL USA LLC (PANASOL), established in December 2022, is building a state-of-the-art solar panel manufacturing facility in College Station, Texas with an annual production capacity of 500 megawatt peak (MWp). Expected to be operational in Q2 2024, the factory will be a fully robotized operation capable of running 24 hours a day. The company’s vision is to be a long-term partner for all customers and projects. For more information, please visit www.PANASOL.solar.
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