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Meyer Burger goals to lift US$253 million to strengthen production ramp-up

Meyer Burger plans to succeed in 3GW of module production capability by means of the top of 2024. Symbol: Meyer Burger.

Heterojunction mobile and module producer Meyer Burger is having a look to lift price range to boost up its growth because it enters the utility-scale phase.

The Switzerland-headquartered corporate is making plans an abnormal capital building up thru a rights providing, focused on gross proceeds of as much as CHF250 million (US$253 million).

With the proceeds from the capital building up, control goals to finance the growth of PV mobile and module manufacturing capability in Germany and the United States, with a function to succeed in 3GW annual manufacturing capability for each and every by means of year-end 2024.

As detailed by means of PV Tech Top class final month, Meyer Burger is making plans to have 3GW of mobile production capability in Germany and 1.5GW of module manufacturing in each Germany and the United States.

The corporate mentioned its fresh provide settlement with US impartial energy manufacturer D. E. Shaw Renewable Investments (DESRI) displays a possibility for sped up expansion.

That deal will see Meyer Burger provide 3.75 – 5GW of modules between 2024 and 2029 to be used in DESRI’s utility-scale sun initiatives.

“The connection with DESRI lets in Meyer Burger to boost up its access into the utility-scale phase and to fast-track the popularity of Meyer Burger modules for use in large-scale application installations,” the producer mentioned in a press free up as of late.

The corporate could also be aiming to get pleasure from insurance policies supporting sun deployment such because the Eu Union’s REPowerEU programme and the United States’s Inflation Relief Act (IRA).

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Control anticipates that Meyer Burger will probably be eligible to obtain a tax credit score below the IRA in reference to modules manufactured in the United States. A portion of the tax credit won, if any, is predicted to be handed directly to consumers within the type of worth discounts, the corporate mentioned.

First product deliveries from the company’s US production plant, situated in Goodyear, Arizona, are anticipated round mid-year 2024.