The Swedish solar PV manufacturer Midsummer AB has signed an original equipment manufacturer (OEM) agreement with the Chinese thin film solar panel producer Kaisheng New Energy Technology to roll out rooftop modules exclusively for Europe.
According to Midsummer, Kaisheng will produce rooftop panels using a slightly different CIGS thin film solar cell manufacturing technology while providing its certifications and quality assurance.
It plans to market the product in Europe as BOLD S, similar to its own model BOLD. This one is specially developed for weak and large flat or gently sloping roofs on mainly commercial and industrial buildings.
"We see this as a long-term strategic collaboration that can have a positive impact on our business and development well into the future," said Midsummer CEO Eric Jaremalm. "In the short term, it will enable us to scale up faster and process a price-sensitive segment of the huge European market; Asian panels still enjoy favorable EU treatment in terms of tariffs etc and have a price advantage over European products which some customers value."
Midsummer also released its interim report for the Q1/2024 financials, according to which it suffered over 31% annual drop in net sales. Operating loss was SEK -26,289,000, compared to SEK -35,072,000 in Q1/2023.
Jaremalm added, "We have shifted our sales efforts to larger commercial and industrial projects via partners, rather than our own installations for the private market. It has greater potential but requires longer decision-making processes, which is reflected in the sales figures for this quarter."
The Swedish company is building its 200 MW thin-film solar cell and module fab at Flen (see Swedish Manufacturer Zeroes In On Solar PV Production Site).