Sunwafe has reached a significant milestone in its goal to establish Europe’s first large-scale silicon ingot and wafer factory by securing land permits for a 30-hectare site in Asturias, northern Spain. The company, which aims for a 20GW annual capacity, also announced the appointment of former GE Capital executive Michael Pinto as CEO. Backed by a €200 million Spanish government investment, the project intends to reduce European reliance on external clean energy supply chains, with commercial production slated to begin by early 2029.
The appointment of Michael Pinto marks a transition into the execution phase for Sunwafe. Pinto, who brings extensive experience from his tenure at GE Capital and various clean energy ventures, will lead the company as it seeks to finalize strategic partnerships, build a leadership team, and secure further capital. The project is positioned as a critical step in reshoring solar manufacturing, a sector currently dominated by Asian production.
Located in the northern province of Asturias, the planned facility will cover 300,000 square meters. The local government has officially approved the development, which is expected to produce approximately 2.5 billion silicon wafers annually. To manage the technical aspects of the build, Sunwafe has partnered with the Spanish engineering firm Tresca, which will oversee project management and engineering for the plant.
Financial momentum for the project was bolstered by a €200 million grant from the Spanish government under the RENOVAL plan, a strategic initiative designed to strengthen renewable energy manufacturing. Founded in 2024 by clean tech investor InnoEnergy, Sunwafe’s mission is to address the “critical dependency” of the European solar industry on imports. Pinto emphasized that the project aims to create a globally competitive platform through strategic collaborations, ensuring that wafer production becomes a core industrial capability within the continent.
This development coincides with a broader European push to foster domestic solar infrastructure. Recent initiatives include the EU’s Net Zero Industry Act (NZIA) and the Industrial Accelerator Act (IAA), both of which aim to streamline the growth of solar cell and inverter manufacturing. Despite these efforts, Sunwafe faces a challenging market characterized by intense competition from China, where massive overcapacity has led to historically low prices for polysilicon and other upstream components.