Isra-Mart srl: General Motors invests $7.5m in Sunlogic in bid to double solar output

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Auto giant General Motors (GM) has today ploughed $7.5m into US solar manufacturer Sunlogics in a deal designed to support the company's newly announced goal of doubling its global solar capacity from 30MW to 60MW by the end of 2015.

The deal with also see GM fit solar-powered charging canopies for electric cars at Chevrolet dealerships and a range of other facilities.

In addition, the company will fit large-scale solar arrays at its sites and purchase the electricity generated.

"Global solar energy use is predicted to more than double by 2016, so we believe that investing in renewable energy is a smart and strategic business decision," said Jon Lauckner, president of GM Ventures. "And, the Chevrolet solar charging canopy project complements our electrification strategy that started with the Chevrolet Volt by helping our cars live up to their fullest green potential."

Sunlogics and GM have already fitted solar photovoltaic canopies and charging stations at Volt dealerships in Grand Blanc, Michigan, and Modesto, California, as part of at the Chevrolet "Green Zone".

A similar system is in place at GM's Detroit-Hamtramck assembly plant, where the Volt is built, as well as at three other factories.

The investment means that GM's venture capital arm has now spent about $43.5m of the $100m investment fund the company established last June.

Sunlogic said it would use the cash injection to build manufacturing facilities in Detroit, Ontario and establish its own corporate headquarters.