Luxembourg’s Socom and Belgium’s Evocells have introduced plans to merge. The brand new firm, Solarcells, will open a 50 MW photo voltaic panel manufacturing facility 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 facility in Hollerich, Luxemburg, on the finish of this 12 months. Within the first section, the ability can have a capability of fifty MW, which can produce nearly 100,000 photo voltaic modules per 12 months, in line with an announcement from the Luxembourg authorities. Solarcells plans to double the manufacturing facility’s capability to 100 MW by 2026.
Every “made-in-Luxembourg” photo voltaic panel will price €15 ($16.20) to €18 greater than panels made in Asia, Socom President Marc Thein mentioned throughout a press convention saying the manufacturing facility, with out disclosing the technical particulars of the panels. Evocells is reportedly taking part in a number one position in buying uncooked supplies and streamlining provide chain administration, whereas sourcing supplies primarily from Europe.
“It is simpler to fabricate domestically to be much less depending on the provision of components and supply from the opposite facet of the world,” Thein mentioned.
The brand new facility requires an preliminary funding of €5 million ($5.4 million) and can create about 20 jobs.
“Photo voltaic vitality is growing in Luxembourg… this supply of vitality isn’t solely clear and helps the Grand Duchy obtain its renewable vitality growth objectives, however it is usually produced domestically and partly of options to lose dependence on fossil fuels in Russia,” mentioned the Minister of Power of Luxembourg, Claude Turmes. “The Socom venture, 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 vitality, the native switch of vitality is facilitated.”
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