In late 2020, Convalt Energy selected Watertown, New York, as the planned home of its headquarters and first solar manufacturing plant.
Equipment and site development
Convalt purchased SunPower manufacturing equipment, relocated it from Oregon to Watertown, and invested approximately $5 million in site development, including civil works. The Jefferson County Industrial Development Agency (JCIDA) provided a $1.05 million working capital loan.
State incentives and the project’s next direction
In January 2021, Convalt executed an incentive term sheet with Empire State Development (ESD). ESD subsequently proposed revised terms, including a suggestion to relocate the project to Buffalo, New York. Convalt declined the revised terms, and no further state incentive agreement was reached.
Without state incentives, the Watertown project could not proceed as planned, and Convalt chose to build its manufacturing operations in New Mexico.
Settlement and repayment
In June 2026, Convalt and JCIDA reached a settlement agreement for repayment of the working capital loan. As of 8 November 2026, Convalt has made all payments due under the agreement.
Appreciation for the community
Convalt remains grateful to the Watertown and Jefferson County community for its support of the project.
WWNY coverage · 5 June 2026
WWNY reported that a settlement had been finalized for repayment of the $1.05 million loan. Its report stated that an initial $125,000 payment had been made, with the remaining $925,000 due by 30 November 2026.