Sun Pacific Holding Corp. Subsidiary Sun Pacific Power Corp and PT. IDN SOLAR TECH sign agreement to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million
Sun Pacific Holding Corp (SNPW) has announced a partnership with PT. IDN SOLAR TECH to establish a 1GW solar manufacturing plant in the USA. This state-of-the-art facility aims to use local labor and advanced technology to produce cost-effective solar panels, projected to generate over $450 million in sales at full capacity. The project includes sourcing materials and capital while also launching OEM panel production in Indonesia. The collaboration is expected to create hundreds of jobs and significantly contribute to sustainable development and green power demands.
- Agreement with PT. IDN SOLAR TECH for a 1GW solar plant in the USA.
- Projected sales of over $450 million at full capacity.
- Creation of hundreds of jobs in the local economy.
- Utilization of advanced technology and local labor to boost production.
- None.
MANALAPAN, N.J., April 19, 2022 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (Other OTC: SNPW) announces that its wholly owned subsidiary, Sun Pacific Power Corp (“SPP”) and PT. IDN SOLAR TECH. (“IST”) have an agreement for the development of a 1GW per year solar manufacturing plant in the USA utilizing revolutionary technology currently being used by “IST”.
The project is currently in discussions with various states for our location and installation. This state-of-the-art processing will be done with local labor under the supervision and training from “IST” and will create cost effective panels to boost the economy and job creation. “IST” is currently producing 1GW of solar panels and also 1GW of solar cells, a level which is planned to be doubled this year. Solar cells produced by “IST” will be used in our USA facility. We are actively engaged in sourcing raw material components and capital with an end goal to sell to developers/EPC in large scale solar projects. Additionally, at this time we are launching our OEM panel production in Indonesia which is under way for our Sun Pacific Power brand while we work at developing our USA factory.
With ongoing negotiations, the construction of our plant in the USA is being planned to utilize 20 square meters with 1GW production consisting of two 500MW fully automated solar panel production lines.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are excited to work with “IST” in helping with this opportunity in the US. The arrangement with “IST” will help us with sourcing raw materials and provide knowledge for building our facility as well as foster further growth opportunities for our company. We look forward to using the considerable “IST” knowledge and expertise to develop various solar panels and designs that we have been working on for some time. This is projected to lead Sun Pacific to over 450 million in sales at full capacity and the creation of hundreds of jobs with the most advanced technologies to be deployed in the USA.
Michael Ho, CEO of PT. IDN SOLAR TECH. stated, “We are looking forward to assist and work on the expansion between Sun Pacific Power and IST. The collaboration with Sun Pacific Power will help increase sales in our cell manufacturing and the growth for both of our companies. The deployment of this advanced technology will enable “SPP” to move forward to meet the demand for both green power and sustainable development.”
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (Other OTC: SNPW) uses management's knowledge and experience to serve its customers and now its shareholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. For more information, visit www.sunpacificholding.com
About PT. IDN SOLAR TECH.
PT. IDN SOLAR TECH. is a company who specializes in solar panel manufacturing and cell production with a current capacity of 1GW for each. PT. IDN SOLAR TECH. intent is to increase their production and technology with the responsibility to have a positive interaction with society, government, and the environment.
For more information, visit www.idnsolar.com
Safe Harbor and Forward-Looking Statements
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
IR Contact
Sun Pacific Holding Corp
345 Highway 9 South Suite 388
Manalapan, NJ 07726
Phone: +1 (888) 845-0242
Email: ir@sunpacificholding.com
Website: www.sunpacificholding.com
PT. IDN SOLAR TECH
Address: Komplek Kabil Indonusa Estate Blk A No. 19B, Batu Besar – Nongsa, Batam, Indonesia
Phone: +62-77-8711052
Email: info@idnsolar.com
Website: www.idnsolar.com
FAQ
What is Sun Pacific Holding Corp's latest announcement regarding solar manufacturing?
How much revenue is Sun Pacific expected to generate from the new solar plant?
What is the expected impact of the solar manufacturing agreement with PT. IDN SOLAR TECH?
Where will the solar panels produced in the new plant be used?
