Meyer Burger receives $224 million for 3.5 GW solar module plant in Europe



Swiss manufacturer Meyer Burger Technology AG says it is likely to build a new 3.5 GW plant at an unspecified location in Spain. The EU Commission is expected to issue a formal decision on granting funding for the project by the end of this year.

It said it would use the funds to support “high-efficiency photovoltaic module production in Europe” (HOPE), including a 3.5GW solar cell and module factory. It is likely to build the facility in an unspecified location in Spain.

“The project is among 11 selected candidates for EU funding in the Clean Tech Manufacturing funding segment. According to the EU Commission, a total of 239 projects applied in all funding segments, of which 41 were successful,” Meyer Burger said in his statement. “In the field of solar electricity production, Norwegian company Norsun was also successful in the project to expand wafer production. Norsun and Meyer Burger are already supplying solar discs to Meyer Burger.

Meyer Burger signed a long-term wafer supply contract with the Norwegian wafer manufacturer Norsun in February. The agreement stipulates increasing purchase volumes when Norsun expands its wafer production capacity in accordance with Meyer Burger’s growth plans.

In October 2022, Meyer Burger also revealed plans to raise 250 million Swiss francs ($291.1 million) in an ordinary capital increase by issuing new subscription rights. The company is now targeting around 3 GW of new annual production capacity by the end of 2024, including 1.4 GW of module production capacity in Freiberg, Germany. It is also exploring plans to manufacture solar cells in the United States

David is a passionate writer and researcher who specializes in solar energy. He has a strong background in engineering and environmental science, which gives him a deep understanding of the science behind solar power and its benefits. David writes about the latest developments in solar technology and provides practical advice for homeowners and businesses who are interested in switching to solar.

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