Published by Global Banking and Finance Review
Posted on December 17, 2025
Dec 17 (Reuters) - UK company Awendio Solaris said on Wednesday that it plans to invest C$1 billion ($725.6 million) to develop a solar cell and module manufacturing facility and global R&D centre in Canada.
The move comes amid growing global demand for renewable energy, as countries and companies race to cut carbon emissions and secure clean power sources.
Indigenous groups, The Naskapi Nation, Wendat Nation, and Kanien'kehá:ka are joining as investor-partners in the project, the company said.
Canada's First Nations are buying stakes in Canadian projects at an accelerating pace as they seek economic benefits from projects on their land and companies look to raise capital.
Awendio Solaris said it is developing a facility in Québec with an initial annual production capacity of up to 2,500 MW, scalable to 5,000 MW.
The startup said construction is expected to begin in the second-quarter of 2026.
($1 = 1.3780 Canadian dollars)
(Reporting by Varun Sahay in Bengaluru; Editing by Shailesh Kuber)
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