HOUSTON, June 18, 2025 /PRNewswire/ -- SEG Solar ("SEG"), a leading U.S.-based PV module manufacturer, announced the successful completion of its first transaction for the sale of Section 45X Advanced Manufacturing Production Tax Credits, with a total value of up to $50 million. The transaction closed, and the first funding occurred, on June 6, 2025.

The tax credits originate from SEG Solar's 2025 module production at its manufacturing factory in Houston, Texas. Under the agreement, a U.S. public company will pay SEG a price of $0.94 per $1.00 of tax credit value across four installments tied to actual production output and sales of solar modules.

Jim Wood, CEO of SEG Solar, said: "We are thrilled to have finalized our first Section 45X tax credit sale, marking a major financial milestone for our company. This transaction provides us with significant cash flow, strengthens our financial position and enables us to further accelerate our investment in U.S. manufacturing. By expanding our production capacity and deepening our domestic partnerships, we are not only advancing clean energy innovation but also contributing meaningfully to job creation and long-term economic growth."

This deal follows months of strategic efforts by SEG to strengthen its domestic operations and contribute to building a more resilient domestic solar supply chain. It also demonstrates strong market confidence in the reliability of SEG production output and the Section 45X credit transfer mechanism, especially for credits backed by U.S.-manufactured module technology.

The tax credits are directly tied to the volume of solar modules produced in 2025 at SEG's facility in Houston, Texas. With a total investment exceeding $60 million, the manufacturing facility has achieved an annual production capacity of 2 GW through two state-of-the-art fully automated production lines. This enables SEG to strengthen its commitment to providing developers and project owners with reliable, high-quality modules featuring the highest possible level of domestic content.

The transaction was facilitated by Moss Adams LLP (n/k/a Baker Tilly Advisory Group).

About SEG Solar

Founded in 2016, SEG is a leading vertically integrated PV manufacturer headquartered in Houston, Texas, U.S., and is dedicated to delivering reliable and cost-effective solar modules to the utility, commercial, and residential markets. By the end of 2024, SEG had shipped over 6 GW of solar modules worldwide and have achieved a module production capacity of 6 GW.