Luxembourg’s Socom and Belgium’s Evocells have introduced merger plans. The brand new firm, Solarcells, will open a 50 MW photo voltaic panel manufacturing unit in Luxembourg on the finish of this 12 months, with plans to double its annual output by 2026.
Socom, a technical constructing engineering firm from Luxembourg, and Belgian photo voltaic firm Evocells have introduced plans to merge and type a brand new firm referred to as Solarcells.
The European three way partnership will open a PV module manufacturing unit in Hollerich, Luxemburg, on the finish of this 12 months. Within the first part, the power could have a capability of fifty MW, which is able to produce virtually 100,000 photo voltaic modules per 12 months, in accordance with a press release from the Luxembourg authorities. Solarcells plans to double the manufacturing unit’s capability to 100 MW by 2026.
Every “made-in-Luxembourg” photo voltaic panel will value €15 ($16.20) to €18 greater than panels made in Asia, Socom President Marc Thein stated throughout a press convention asserting the manufacturing unit, with out disclosing the technical particulars of the panels. Evocells is reported to play a number one function in buying uncooked supplies and streamlining provide chain administration, whereas sourcing supplies primarily from Europe.
“It is simpler to fabricate regionally to be much less depending on the availability of substances and supply from the opposite aspect of the world,” Thein stated.
The brand new facility requires an preliminary funding of €5 million ($5.4 million) and can create about 20 jobs.
“Photo voltaic power is growing in Luxembourg… this supply of power is just not solely clear and helps the Grand Duchy to realize its renewable power growth targets, however it’s also produced regionally and partly of options to lose dependence on fossil fuels in Russia,” stated the Minister of Vitality of Luxembourg, Claude Turmes. “The Socom mission, which goals to supply photovoltaic panels within the nationwide territory, will assist us to strengthen- on this freedom: from the manufacturing of panels to the manufacturing of photo voltaic power, the native switch of power is facilitated.”
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