Solarge Raises Finance For Production Plans

ASN Bank To Lend €4.4 Million For 1st Lightweight Solar Panels Factory In Netherlands

Solarge Raises Finance For Production Plans

Mondragon Assembly has developed a new proprietary technique for Solarge’s 100 MW lightweight module production line in the Netherlands. The latter has now raised €4.4 million loan from ASN Bank to realize its production plans. (Photo Credit: Solarge)

  • Solarge has raised €4.4 million loan from the ASN Bank of the Netherlands to support its production plans
  • It aims to start Weert, Limburg fab to come online with 45 MW capacity under phase I, enough to produce 100,000 panels by early 2023
  • The company wants to grow the production capacity on site to 600,000 panels by 2025

ASN Bank of the Netherlands will lend €4.4 million to support solar module maker Solarge’s plans to develop what is being touted as the 1st lightweight solar panel factory in the country’s Limburg region.

The fab is scheduled to open in early 2023 and by the end of next year an initial 100,000 panels are likely to roll off the production line with a total capacity of around 45 MW, which the bank says is enough to power 15,000 households for 20 years.

By 2025, Solarge targets to expand the annual capacity in Weert to 600,000 solar panels.

“The majority of solar panels on the market are (still) too heavy to install on the roofs of commercial buildings. It is precisely in those places that large-scale solar energy can be generated,” said Account Manager Financing with ASN Bank, Sonja van der Eijk. “With Solarge’s solution – lightweight, standard solar panels – the number of installations can be expanded considerably. This fits in seamlessly with ASN Bank’s ambition to accelerate the energy transition.”

Solarge’s solar panels are easy to install for variety of applications like factories, distribution centers and stables, because it uses fibre-reinforced polymers for its lightweight modules that weigh less than half of conventional panels, according to the company. The company claims 50% faster installation and 20-year limited linear power output warranty along with 10-year limited product warranty for its modules. The panels also release up to 75% less carbon during the manufacturing process, it claims

From 2023 onward, the manufacturer wants to use bio-based raw materials to produce its panels, eventually also using recycled plastics that do not use chemical PFAs to ensure sustainable solar products.

Solarge will source its production equipment from Spain’s Mondragon Assembly that’s developed a new proprietary technique for its 100 MW line (see Solarge’s 100 MW Line To Be Online By 2022-End).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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