June 26, 2024

Meyer Burger Launches Solar Module Production in Arizona, USA.

Meyer Burger, a Swiss solar technology company is transitioning its core operations from Germany to the United States. The company is set to begin production at its new US module factory, focusing on heterojunction solar modules, which are known for their high efficiency and performance. 

Collaboration With a Leading U.S. Company

Meyer Burger has launched a strategic partnership with an undisclosed U.S. industry and technology company. This collaboration is set to enable the solar manufacturer to increase the use of domestically produced components in their solar modules. Negotiations have progressed to the signing stage, accompanied by the exchange of a term sheet outlining a potential investment in Meyer Burger. The partnership aims to streamline the production of solar modules in the United States, with Meyer Burger expected to finalize binding agreements by the third quarter.

Meyer Burger has also recently finalized a three-year offtake agreement with the prominent US energy company, securing the purchase of highly efficient solar modules from its Goodyear plant, which boasts an annual capacity of up to 600 megawatts starting in January 2026. The agreement includes an option for the customer to extend for an additional two years, contingent upon the completion of financing for Meyer Burger's solar cell plant in Colorado Springs.

Expansion Plans in Colorado Springs

Production has begun at Goodyear, Arizona after a successful factory audit. The PV cells used for module production at Goodyear are supplied from the Swiss company's facility in Thalheim, Germany.

As part of its US expansion strategy, Meyer Burger is also progressing with plans to establish a solar cell manufacturing facility in Colorado Springs, Colorado, with an anticipated annual capacity of approximately 2 GW. The factory's operational timeline is slated for late 2024, subject to the approval and extension of a loan from the US Department of Energy (DOE).

Financing and Support

Meyer Burger has made significant strides in financing: a major U.S. bank has completed due diligence for monetization under Article 45X of the Inflation Reduction Act (IRA). Currently, the company is in negotiations for loan agreements with plans to finalize and disburse funds by mid-third quarter. Concurrently, Meyer Burger anticipates securing export financing from a leading German bank to support its expansion of solar production in the USA.

These developments position Meyer Burger to play a significant role in the U.S. solar market, leveraging high-efficiency heterojunction solar modules and strategic partnerships to enhance their competitive edge.

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