CPS progresses work on Canadian solar glass plant, plans new one in US

Pattern solar glass maker Canadian Premium Sand Inc (TSXV:CPS) on Monday announced progress on its project to open a manufacturing site at home, as well as a plan to build a new one in the US, targeting a combined production capacity of 10 GW annually.

CPS said that it has advanced work on up to CAD 272 million (USD 195.7m/EUR 179.4m) in financial assistance for its facility in Selkirk, Manitoba agreed with the Province of Manitoba and the Government of Canada in September.

The company has filed a detailed application for CAD 100 million in non-dilutive financial support and is now entering the due diligence phase. It is working on formalising elements of the CAD-72-million financial support from the Province of Manitoba and has held discussions with Manitoba-based indigenous groups related to their participation in the Selkirk Project of CAD 100 million utilising the federal Indigenous Loan Guarantee Program.

The CAD-880-million Selkirk Project is designed to produce 800 tonnes of solar glass daily, implying an annual manufacturing capacity of 6 GW.

Encouraged by the Inflation Reduction Act (IRA) and demand from local customers, CPS has decided to open a manufacturing plant in the US. It has already selected a site and is now preparing plans to re-purpose a former glass manufacturing facility to produce 4 GW of solar glass per year.

The Canadian firm is in discussions to attract a potential strategic glass manufacturing partner to jointly develop the plant. In addition, it has applied for the US Department of Energy’s investment tax credit and the decision is expected in the first quarter of 2025.

(CAD 1 = USD 0.719/EUR 0.660)

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