Swedish thin film solar equipment and cell manufacturer Midsummer has secured around SEK 390 million ($45 million) financial support from the Italian government for its CIS thin film solar cell fab with 50 MW annual capacity to come up in Puglia, Italy in summer of 2022.
Midsummer had sought establishment support from Italy's National Agency for Inward Investment and Economic Development, also called Invitalia in December 2020 (see Italian Fab Plans Of Midsummer Moving Forward).
Total investment for the fab is estimated as SEK 660 million ($76 million). Midsummer said this is the 1st Swedish project to be included in Italy's €191.5 billion Recovery and Resilience Plan endorsed by the European Commission.
This fab will make it Europe's largest factory for the production of thin film solar cells, it said, and that it will also be the Swedish company's largest factory, even larger than its current production facility in Järfälla, Sweden where the current annual capacity is 2 MW. Management said its subsidiary Midsummer Italia that will own and operate the new fab will start with equipment purchase, including DUO machines from the parent company, and start recruiting staff.
Solar cells manufactured at Bari location will primarily be sold to customers in Southern Europe.
The Swedish company is upbeat about the demand of its solar cells as CEO Sven Lindström said the company is increasing order intake by several 100% every quarter and is overwhelmed by the great demand. During Q3/2021 alone, the order intake of its solar cell products was 500% higher.