Adelaide-based solar panel manufacturer Tindo has been awarded $34.5 million in funding through the Australian Government’s $1 billion Solar Sunshot Program, a major initiative aimed at strengthening the country’s solar manufacturing capability.
The announcement was made on 5 August by the Australian Renewable Energy Agency (ARENA), which is administering the program.
The support package includes a Manufacturing Production Credit and a capital grant, intended to boost Tindo’s manufacturing capacity and contribute to the development of a domestic solar PV supply chain.
According to Tindo, the funding will enable the company to expand its annual production capacity from 20 megawatts to 180 megawatts, and to upgrade its factory in Mawson Lakes, South Australia.
The investment is expected to reduce manufacturing costs and allow the company to produce at greater scale, Tindo said in a news release.
Tindo is currently the only manufacturer of solar panels in Australia. The company said the expansion would create 50 new jobs and open new training opportunities at its expanded facility.
It will also support a feasibility study into a potential Gigafactory capable of producing up to one gigawatt of solar modules annually.
Tindo Chief Executive Officer Richard Petterson said the Solar Sunshot funding would allow the company to significantly grow its market reach.
“The Solar Sunshot support means we can lower our prices while maintaining our quality, which quadruples our addressable market and makes Tindo solar panels available to more consumers,” Petterson said.
He said the production credit would help Tindo compete more effectively on a global scale, and allow it to participate more meaningfully in Australia’s energy transition, which is projected to rely heavily on solar PV by 2050.
“It’s important that domestic industry plays a part in our future system, and today’s announcement helps make that a reality,” he said.
Tindo stated it has been manufacturing solar panels in Australia since 2011. Its 410W Karra module recently topped a CHOICE survey of 15 panels available in the Australian market, and was the only product in the survey whose tested output met or exceeded its nameplate claim. The company offers a 25-year product warranty, and its panels are cyclone-rated.
Petterson said the new investment would strengthen local manufacturing while delivering environmental and economic benefits.
“This is good for Australian manufacturing, good for the environment and great for Australian consumers who will find it affordable to put Australia’s best panel on their roofs,” he said.
