PANASOL cited for “groundbreaking work” in solar energy sector, setting “a new standard in the industry”
COLLEGE STATION, Texas–(BUSINESS WIRE)–PANASOL USA LLC, a state-of-the-art solar panel manufacturing facility being built in Texas, has received an award in the EnergyTech category of the Go Global Awards from the International Trade Council.
The 2023 Go Global Awards, organized annually by the International Trade Council, and hosted by the Rhode Island Commerce Corporation, 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 businesses and agencies in international trade but also served as a platform for networking and sharing best practices.
In recognizing PANASOL, judges lauded the company’s vision, determination, and innovation.
“The International Trade Council is proud to recognize such a pioneering and environmentally conscious effort in the solar energy realm,” said Ranjani Rangan, Chairperson Elect for the International Trade Council. Rangan added that the award is “a monumental achievement for PANASOL, and it exemplifies the remarkable journey of innovation and resilience that has defined this company.”
PANASOL was formed following the efforts of UK-based Renergia Holdings Ltd., led by founder Ricardo Jimenez, and his colleague Jorge Enrique Paniagua. They started working on the development of a solar panel manufacturing facility for the U.S. following the multiple backlogs from solar developers after the COVID-19 pandemic.
Following passage of the Inflation Reduction Act bill in the summer of 2022, Renergia joined forces with its current partners, SolCatalyst LLC and SDC Capital Ventures LLC, through its own U.S. subsidiary, PANASOL Inc. In December 2022, the three partners incorporated in the state of Texas in what is now known as PANASOL USA LLC.
In early 2023, having secured the site and the funds, PANASOL embarked on the development of this project under the leadership of Renergia and with the support of a highly qualified group of strategic partners, mainly Ecoprogetti SRL and 149MKM and M77. The company is now expecting to begin production in the second quarter of 2024.
“The groundbreaking work of PANASOL, particularly in overcoming the production backlogs and leveraging the opportunities presented by the IRA Bill of 2022, has set a new standard in the industry,” said Rangan. “PANASOL stands as a shining example of what can be achieved with determination, innovation, and a commitment to sustainability.”
Jimenez was grateful for the award, which he said was the result of strong collaborations with partners and various agencies over the past several years.
“On behalf of the PANASOL USA team, I am truly honored and thankful to receive such a prestigious award from the International Trade Council,” said Jimenez, chairman and founder of PANASOL. “We are committed to being a long-lasting partner for all customers and projects in which we participate and to making a significant impact in the U.S. solar panels manufacturing industry.”
The gala awards dinner was graced by prominent figures, including Rhode Island Secretary of Commerce Elizabeth Tanner; James Golsen, Deputy Director General, U.S. Secretary of Commerce; with a remote guest of honor, Gina Raimondo, U.S. Secretary of Commerce. The event was hosted by Rangan, alongside notable figures such as Canada Sen. David Wells, Viscount Lord John Desmond Waverley of the UK Parliament, H.E. Ambassador Sven Jurgenson, and Charles Mok, board member of the International Centre for Trade Transparency and Monitoring.
About PANASOL USA LLC
Incorporated in December 2022, PANASOL USA LLC (PANASOL), is a state-of-the-art solar panel manufacturing facility being installed in College Station, Texas, with an annual capacity of 500 Megawatt peak (MWp). The factory, expected to be functional in the second quarter of 2024, is a fully robotized operation that can run 24 hours a day. Its vision is to become a long-lasting partner for all customers and projects. Learn more at www.PANASOL.solar.
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