The board of Swiss heterojunction cell and module producer Meyer Burger has accepted a capital increase to fund a buildout of the corporate’s manufacturing capability for photo voltaic cells and modules to roughly 3GW.
At an Extraordinary Normal Assembly on 28 October Meyer Burger’s board agreed to subject 934,671,850 new registered shares with a par worth of CHF0.05 per registered share. If all bought at that worth, Meyer Burger would increase US$47 million from the increase.
Firstly of October, the Switzerland-headquartered firm mentioned it was planning an peculiar capital improve by means of a rights providing, concentrating on gross proceeds of as much as CHF250 million (US$253 million).
The funds are anticipated to allow Meyer Burger to broaden annual manufacturing capability for photo voltaic cells and photo voltaic modules to roughly 3GW.
Meyer Burger shareholders are anticipated to obtain one subscription proper for every registered share they maintain as of 31 October, after shut of buying and selling. The subscription rights begin on 1 November and will likely be transferable and tradable through the envisaged rights buying and selling on SIX Swiss Trade.
As detailed by PV Tech Premium, Meyer Burger is planning to have 3GW of cell manufacturing capability in Germany and 1.5GW of module manufacturing in each Germany and the US.
The corporate can be aiming to learn from insurance policies supporting photo voltaic deployment such because the European Union’s REPowerEU programme and the US’s Inflation Discount Act (IRA).
In Europe, it has led requires the higher scaling of PV manufacturing on the continent so as to be aggressive with different areas and guarantee safety of provide for its power transition.
With PV manufacturing help included within the IRA and India aiming so as to add 65GW of PV module manufacturing capability by means of an prolonged incentive scheme, European gamers have emphasised the necessity to help the expansion of Europe’s PV manufacturing sector, which is considerably much less mature than counterparts within the US, India and, in fact, international chief China.
This comes similtaneously demand for European-made PV manufacturing tools jumped by 62% in Q2 2022, with European orders surpassing these from Asian nations for the primary time, in response to analysis by engineering business affiliation VDMA.
Clear power advisory agency Apricum has urged European nations to construct out their very own large-scale, vertically built-in photo voltaic manufacturing bases geared to supply the newest PV applied sciences as a method to make sure its transition and bolster its power independence.
Within the US, Meyer Burger secured a long-term provide settlement for as much as 5GW of PV modules with D. E. Shaw Renewable Investments (DESRI). That deal will see Meyer Burger provide 3.75 – 5GW of modules between 2024 and 2029 to be used in DESRI’s utility-scale photo voltaic initiatives.
The corporate mentioned the provide settlement with unbiased energy producer DESRI displays a chance for accelerated progress within the US market.
