British Company Plans $725 Million Solar Investment in Canada

British startup Awendio Solaris is set to launch one of Canada's largest solar manufacturing projects, with an investment plan that could reach CAD 1 billion (approximately USD 725 million), by establishing a fully integrated solar cell production and panel assembly plant in Quebec.

Major Industrial Project in Montreal

According to the company, the project aims to create a manufacturing facility and research and development center in an industrial area near Montreal, with an initial production capacity of 2,500 MW per year to supply solar panels to energy facilities and utility companies in North America.

The company's CEO, Marc Deshaies, described the project as "massive in every sense," noting that the factory will be capable of producing the equivalent of 20 shipping containers daily of ready solar panels.

Quebec: Advantage of Cheap Clean Energy

The choice of Quebec was not random, as the province relies on a vast network of low-cost hydroelectric power, giving the project a competitive edge in terms of sustainability and cost. The first phase of the plant will require approximately 32 MW of electricity from Hydro-Quebec, with the remainder covered by solar energy produced by the project itself.

Challenges in Electricity and Financing

Despite the attractive investment opportunity, the project still hinges on obtaining official approval for securing electricity and full financing, amid increasing pressures on the Hydro-Quebec grid, especially following long-term commitments to export electricity to the United States.

The local government in Quebec confirmed that it is reviewing the project with great interest, as the province seeks to balance attracting major industrial investments while ensuring local energy security.

Diverse Financing and Engineering Partnerships

Regarding financing, the company has indicated that the project currently has support from:

• The company itself

• American family investment offices

• Groups from Indigenous communities in Canada

The National Bank of Canada is also working on forming an investment alliance to support the project, alongside efforts to secure federal and local government support.

On the engineering front, Awendio has partnered with:

• RCT Solutions from Germany

• AtkinsRealis Group from Canada

Wider Context: Global Race in Solar Manufacturing

This project comes at a time when there is a significant acceleration in investment in solar energy and local supply chains, especially in North America, as governments seek to reduce reliance on Asian imports and enhance energy security and the green transition.