Swiss producer Meyer Burger Technology AG states it will mostlikely develop a brand-new 3.5 GW factory at an undefined area in Spain. The EU Commission is anticipated to concern a official choice on giving moneying for the job by the end of this year.

Image: Meyer Burger

Meyer Burger has revealed that the European Commission hasactually evaluated its financing application for ?%A/C200 million ($224.4 million) as “eligible.” The commission is anticipated to problem a official financing choice by the end of this year.

It stated it will usage the funds to assistance its “high-efficiency onshore PV module production in Europe” (HOPE) job, consistingof a 3.5 GW solar cell and module factory. It will mostlikely developed the center at an undefined place in Spain.

“The job is amongst the eleven picked prospects for EU financing in the financing section ‘Clean Tech Manufacturing.’ According to the EU Commission, a overall of 239 tasks used in all financing sectors, of which 41 were effective,” Meyer Burger stated in a declaration. “In the location of photovoltaic production, the Norwegian business Norsun was likewise effective with a task to broaden wafer production. Norsun and Meyer Burger are currently in a supply relationship for solar wafers for Meyer Burger.”

Meyer Burger signed a long-lasting wafer supply agreement in February with Norwegian wafer maker Norsun. The agreement supplies for increasing purchase amounts as Norsun broadens its wafer production capability, in line with Meyer Burger’s development strategies.

In October 2022, Meyer Burger likewise exposed prepares to raise CHF 250 million ($291.1 million) bymeansof an normal capital boost, by releasing brand-new membership rights. The compa