In 2012, EDF Renewables acquired Photowatt, which was on the brink of bankruptcy in the face of heavy Chinese imports
In November 2024, French startup CARBON's attempt to acquire Photowatt fell through
The current 162 Photowatt employees, albeit sad, have welcomed this decision
‘Innovation since its origin,’ reads the official website of Photowatt, one of the oldest solar companies in the world. Established in 1979 in France, the company had seen its glory days, where it once fueled Europe’s far-reaching goal to become a renewables manufacturing giant and was looked upon to provide the technology that would help the continent achieve its ambitious climate goals. However, today it watches on as the curtains come down.
Photowatt's parent company, EDF Renewables, said in a press release that the EDF management has decided to shut it down, after failing to find solutions to stop continued losses, running into €20 million to €30 million annually for several years now.
Photowatt began as a research center in the north of France, eventually becoming a pioneer in the photovoltaic industry
After 2 decades, in 2009, the company faced decreased demand for solar modules and systems, leading to a halt in production at its Bourgoin-Jallieu facility for 3 weeks, impacting about 450 production employees
In 2012, EDF Renewables acquired Photowatt out of bankruptcy protection after the company was hit heavily by cheaper Chinese imports. Eventually, even EDF stopped buying panels from Photowatt in favor of those manufactured by the Chinese companies
In 2018, Photowatt shifted its focus from manufacturing solar panels to producing silicon wafers used in solar panel production
In September 2024, EDF Renewables reached a draft agreement to sell Photowatt to French startup CARBON, aiming to integrate Photowatt into CARBON's industrial project to develop the French photovoltaic sector (see France’s Carbon To Acquire Solar PV Modules Manufacturer). However, CARBON abandoned this proposed acquisition in November 2024, following a negative opinion from Photowatt's Works Council, with employees expressing concerns about the credibility of the development plan
And finally in 2025, after years of financial difficulties and the failure to secure a buyer, EDF Renewables announces the permanent closure of Photowatt's operations
The company has 162 employees at the moment, who have welcomed this decision with sadness, although they were aware that a shutdown seemed the most likely outcome. They now expect EDF to treat them with dignity and respect and find the best solution for each of them.
To this end, EDF Renewables said that the Social and Economic Committee (CSE) has been called for a meeting on February 4 to begin the process of information-consultation of trade union organizations and also to discuss the conditions for supporting the employees.
This procedure may last about 3 months, during which time EDF will look for a buyer for the site - and not the activity itself - of Bourgoin-Jailleu.
The internet has been abuzz with the news of Photowatt's shutdown For the past few days. Sentiments ran high as industry stalwarts hailed the company’s dedication to the PV industry. On LinkedI, Xavier Daval, Chair of SER-SOLER, the Solar PV Commission at the French Renewable Energy Association, expressed his respect, calling Photowatt a company that promised energy sovereignty before its time. Listing out the learnings from this loss, Daval called out for more support to industrial players, and to structure a sector capable of responding to international competition.
.png?w=50&fm=png){kind=logo}