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 challenge a proper funding resolution by the tip of this 12 months.

It mentioned the funding will probably be used to help the “high-efficiency onshore PV module manufacturing in Europe” (HOPE) challenge, together with a 3.5 GW photo voltaic cell and module manufacturing facility. It’ll doubtless construct the ability in an unspecified location in Spain.

“The challenge is likely one of the eleven chosen candidates for EU funding within the funding phase ‘Clear Tech Manufacturing.’ In line with the EU Fee, a complete of 239 initiatives utilized in all areas of funding, of which 41 had been profitable,” mentioned Meyer Burger in an announcement. “Within the space of ​​photovoltaic manufacturing, the Norwegian firm Norsun has additionally succeeded in a challenge 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 step with Meyer Burger’s progress plans.

In October 2022, Meyer Burger additionally revealed plans to lift CHF 250 million ($291.1 million) by means of an abnormal capital enhance, by issuing new subscription rights. The corporate is at the moment focusing on round 3 GW of recent 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 USA

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