Meyer Burger Bags 4-Year Module Supply Contract

• Meyer Burger says Ingka Investments has signed up for a long-term procurement agreement for its solar modules
• It will produce these premium panels in the US at its Arizona located new 2 GW production facility
• The modules will be manufactured on Meyer Burger's new glass-to-glass product platform, suitable for utility scale applications

Europe based solar cell and module manufacturer Meyer Burger Technology AG says an Ingka Investments offtake agreement, of undisclosed financial value, will cover the supply of its premium solar modules produced at its manufacturing facility in Goodyear, Arizona in the US for 4 years.

The investment arm of the largest IKEA retailer Ingka Group will procure Meyer Burger's US made modules between 2025 and 2029. These will be manufactured on Meyer Burger's new glass-to-glass product platform, suitable for utility scale applications, it added.

Meyer Burger identifies the Ingka agreement as one of the 2 offtake arrangements it announced in March 2023 which back then it said enabled it to expand the fab's annual production capacity from 1.6 GW to around 2 GW (see Meyer Burger To Expand US Module Manufacturing Capacity). At the time, Meyer Burger said the structure of the new offtake agreements is closely based on its first US offtake agreement with DESRI for 1.5 GW announced in summer 2022 (see 3.75 GW DESRI Order For Meyer Burger In US).

Under the agreement reached, Ingka will make a substantial annual down payment for Meyer Burger to procure and finance equipment, materials and raw material for module production.

"We are very pleased to cooperate with Ingka Investments, who will support us in the rapid ramp-up of our production in the US through this offtake agreement," said Daniel Menzel, COO of Meyer Burger.

Ingka Investments' this investment is part of IKEA's target to become climate positive for which it aims to become completely renewable energy powered by 2025.