European solar energy manufacturers receive financial support from the EU

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Norsun and Midsummer have both secured financing to support their capacity expansion plans. Norway’s Norsun plans to increase its polysilicon capacity to 3 GW, and Midsummer wants to build a 200 MW module factory in Sweden.

Norsun said it will use the funds to quadruple the capacity of its n-type wafer and ingot mill to 3 GW in Årdal, western Norway, using hydropower. The production of wafers is very energy-intensive and the use of hydropower significantly reduces the ecological footprint of solar modules. The production capacity of the Oslo-based company is currently 1 GW.

“The EU sees NorSun and Norway as a strategic resource in rebuilding the European solar energy value chain and has therefore decided to offer direct support to this industry in Norway. The 3 GW of new capacity will quadruple existing capacity, the company said in a statement.

Norsun said it is also preparing technical and commercial details for a 5 GW facility in the US in addition to the Norwegian facility.

Midsummer said it will invest the funds in a 200 MW CIGS module plant near Stockholm. The company will use its own DUO production equipment at the factory.

“Midsummer manufactures the thin film coating equipment itself, but the back-end equipment such as screen printers, testers, sorters, tabbings and stringers are purchased from third parties,” said Sven Lindström, CEO of Midsummer. pv magazine.

Midsummer, which specializes in the construction of integrated photovoltaic (BIPV) and rooftop modules, also has a 50 MW factory under construction in Italy. It raised about a third of its funding from national grants and low-interest loans. “

We expect to be ready to sign with the EU by the end of the year. The locations in Sweden are concentrated in the Lake Mälaren area,” said Lindström.

The EU’s innovation fund recently financed several other solar power manufacturing expansion projects, such as Enel Green Power’s 3 GW project in Italy. Swiss heterojunction cell and module manufacturer Meyer Burger also received EUR 200 million last week to support 3.5 GW expansion projects. pv magazine. The financing agreements are expected to be completed by the end of the year.

David
Davidhttp://solarpanelnews.com
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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