Meyer Burger introduced that the European Fee has judged its funding software for €200 million ($224.4 million) as “eligible.” The fee is predicted to situation a proper funding choice by the tip of this yr.
It stated the funding might be used to assist the “high-efficiency onshore PV module manufacturing in Europe” (HOPE) venture, together with a 3.5 GW photo voltaic cell and module manufacturing facility. It’ll possible construct the ability in an unspecified location in Spain.
“The venture is likely one of the eleven chosen candidates for EU funding within the funding phase ‘Clear Tech Manufacturing.’ In accordance with the EU Fee, a complete of 239 tasks utilized in all areas of funding, of which 41 have been profitable,” stated Meyer Burger in an announcement. “Within the space of photovoltaic manufacturing, the Norwegian firm Norsun has additionally succeeded in a venture to develop wafer manufacturing. Norsun and Meyer Burger have already got a provide relationship for photo voltaic wafers for Meyer Burger.
Meyer Burger signed a long-term wafer provide contract in February with Norwegian wafer producer Norsun. The contract gives for elevated buying quantity as Norsun expands wafer manufacturing capability, in keeping with Meyer Burger’s development plans.
In October 2022, Meyer Burger additionally revealed plans to boost CHF 250 million ($291.1 million) by an bizarre capital enhance, by issuing new subscription rights. The corporate is at present focusing on round 3 GW of latest annual manufacturing capability by the tip of 2024, together with 1.4 GW of module manufacturing capability in Freiberg, Germany. It’s also investigating plans to fabricate photo voltaic cells in the US
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