Sunwafe has reached several important milestones on its path to launching Europe's first large-scale silicon ingot and wafer manufacturing plant. In March, the company received approval from regional authorities for a 30-hectare site in Asturias , a crucial first step towards the construction and industrial deployment phase of the project.
To lead this ambitious initiative and advance towards the planned commercial launch in early 2029, Sunwafe has appointed Michael Pinto, an international executive with extensive industrial and business experience, as its new CEO, effective March 2nd. Under Pinto's leadership, the company is now entering an execution phase focused on several key areas, including consolidating industrial alliances, building the management team, raising capital, and planning its operational presence in Spain.
The company also strengthened its industrial plan through a strategic alliance with Tresca , a Spanish engineering firm with 25 years of experience managing complex industrial infrastructure projects in 20 countries. Tresca will assume overall project management, as well as the basic and detailed engineering for the future 20 GW silicon ingot and wafer plant in Asturias.
Sunwafe was created by InnoEnergy in 2024 with the aim of establishing a globally competitive silicon wafer manufacturer in Europe. Its creation responds to a profound shift in the European industrial and geopolitical landscape: currently, over 90% of global wafer production is concentrated in Asia, placing Europe in a critically dependent position for a strategic link in the clean energy value chain.
Closing this gap requires not only financial investment but also a comprehensive approach to fostering new industry leaders. This is precisely the foundation of InnoEnergy's strategy, which focuses on identifying structural market gaps and building companies from the ground up with industrial, financial, and technological partners. Sunwafe is building on this solid track record with the goal of reconstructing a resilient and competitive wafer manufacturing base in Europe.
“This is undoubtedly a pivotal moment for Europe and for the global energy transition. As Europeans, we must ask ourselves what energy security truly means and what role we want clean energy to play in our shared future. By carefully crafting mutually beneficial agreements with selected strategic partners in Asia, Sunwafe is committed to building a world-class, advanced manufacturing facility that will successfully relocate wafer production as a key industrial capability to Europe,” commented Michael Pinto, CEO of Sunwafe.
In 2025, the firm received a non-refundable grant of 200 million euros from the Spanish Government, within the framework of the Recovery, Transformation and Resilience Plan – PRTR through the RENOVAL program for renewable energy value chains, supported by the Next Generation EU funds of the European Union, which underlines the strategic relevance of the project for Spain and Europe.
Taken together, these advances allow the company to begin executing its business plan on a solid foundation. The company anticipates reaching an annual production capacity of 2.5 billion silicon wafers by 2030, equivalent to 20 GW, which would represent up to 50% of the projected annual demand for wafers in Europe at that time.
The company plans to make the final investment decision in February 2027, construction is scheduled to begin in 2027, and commercial operations are expected to start in early 2029.