Switzerland wants to raise a quarter of a billion francs through a capital increase
Thun/Freiberg/Thalheim, October 4, 2022. Given the strong demand for its photovoltaic modules, “Meyer Burger” from Thun now wants to expand production in Saxony with a capital increase of 250 million Swiss francs (about 255 million euros). By the end of 2024, the US is about three gigawatts. This mandatory expansion plan The Swiss solar factory supplier announced today.
The energy crisis has boosted demand for photovoltaics
“The solar markets around the world, especially in Europe and the US, are showing sustained strong growth and are being fueled by the recent energy crisis,” says Meyer Burger, explaining the background to the accelerated expansion trend. Additionally, a long-term supply agreement was recently signed with US company DE Shaw Renewable Investments (Desri). The deal stipulates that Meyer Burger will supply Americans with 3.75 to five gigawatts (GW) of solar modules from 2024 through the end of the decade. Considering this regulatory situation, the conglomerates want to expand their factories so that solar cells and modules can achieve a total production of three gigawatts per year.
More cells from Thalheim and new blocks from Arizona
In particular, it wants to invest money from a planned capital increase in the expansion of its solar cell factory in Dalheim in Swiss Saxony. There, the company has leased an additional building with more than 40,000 square meters of space next to the former Solipro cell factory. Meyer Burger also plans to break ground on a new solar module plant in Goodyear, Arizona by mid-2024.
The module factory Freiburg is to grow from the current 400 MW to 1.4 GW.
At the same time, the company is also expanding its solar module production in Saxony: the former “Solarworld” factory in Freiburg, which Meyer Burger modernized and converted with its own systems, now reaches an annual capacity of 400 megawatts (MW). Meanwhile, Freiberg is already running a second batch of series. By the end of 2024, this Saxon location should have reached a module capacity of around 1.4 GW.
Source: Meyer Burger
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