EU Innovation Fund Swiss Winner’s Growth Plans

• Meyer Burger has announced winning €200 million under the EU's 3^rd Innovation Fund for large scale projects
• The manufacturer says the funding backs its plans to add 3.5 GW solar cell and module capacity in Germany and possibly in Spain
• Management recently said it aims to achieve close to 3.4 GW nameplate capacity in Germany and the US by 2024-end

Switzerland headquartered heterojunction (HJT) solar PV technology company Meyer Burger Technology AG has announced plans to add 3.5 GW solar cell and module production capacity after winning €200 million under the 3^rd European Union (EU) Innovation Fund round for large scale projects.

The manufacturer says this capacity will be constructed in Germany and probably in Spain as part of its project called HOPE that's short for High Efficiency Onshore PV Module Production in Europe.

"The EU is not only contributing to the decarbonization of the energy system and the transformation of the industry. It is equally investing in the resilience of supply chains in the solar industry," said Meyer Burger CEO Gunter Erfurt.

An equipment manufacturer to begin with, Meyer Burger ventured into solar cell and module production with 400 MW capacity each at its Thalheim and Freiberg facilities in Germany, respectively. At these locations, it installed around 1 GW nameplate capacity each in 2022. Within 2023, it targets to expand the overall capacity at these locations to 1.4 GW each.

On the anvil is 2 GW additional cell production in Thalheim by 2024, and installing 2 GW module capacity at its Goodyear, Arizona fab in the US. According to the company's July 2023 corporate presentation, it had guided for the group's overall annual cell and module production capacity to grow to 4.1 GW each by 2025, rising to 6.9 GW each by 2026, pending policy support, e.g. EU Innovation Fund.

Having won the EU funding, it seems likely the company could pursue these ambitions after all.

By 2024-end, it targets to achieve close to 3.4 GW nameplate capacity in Germany and the US. In 2023, it aims to produce 800 MW annually, up from 321 MW it rolled out in 2022 (see Meyer Burger To Expand US Module Manufacturing Capacity).

A formal grant decision will be announced by the European Commission by the end of this year to the winners of the Innovation Fund. Meyer Burger, along with its wafer supplier NorSun of Norway and Swedish thin-film module supplier Midsummer are among 41 winners selected for the EU funding round (see Boost For European Clean Tech Manufacturing). Swedish solar cell manufacturer Midsummer's plans to set up a new 200 MW 'mega-factory' to roll out thin-film solar cells have secured financial support from the Innovation Fund's 3^rd call for large scale projects (see New Thin Film Module Factory Planned in Europe).