Meyer Burger makes significant progress in relocating its core business to the USA

Ramp-up of solar module production in Goodyear, Arizona, begins following successful factory audit.

Strategic partnership with leading U.S. technology group to expand activities in the USA in the pipeline.

Fourth long-term offtake agreement signed with a new major customer for a total volume of 1.75 gigawatts over three years with an option to extend for a further two years.

Financing of solar cell plant in Colorado making progress, completion of 45X financing targeted by mid-third quarter.

 

Meyer Burger's new solar module plant in Goodyear, Arizona, starts production. The factory audit according to UL testing standards required for the official start of production was passed without any deviations. The solar cells required for module production have already been produced at the German site in Thalheim (town of Bitterfeld-Wolfen) for some time and will continue to be supplied from there. The Thalheim site will be needed for the foreseeable future to ensure the ramp-up in the U.S., at least until the solar cell line in Colorado Springs, Colorado, is up and running. The exact timing for the start of solar cell production in the U.S. will depend on the closing of the 45X financing.

Strategic partnership initiated with leading U.S. group

A commercial agreement was negotiated to the point of signature with a U.S. industry and technology leader and a term sheet for a potential investment in Meyer Burger was exchanged. This planned strategic collaboration will enable the company to produce a solar module that is manufactured in the US with an increasing share of domestic components. Meyer Burger is working on binding agreements, which are expected to be finalized in the third quarter.

Further offtake agreement for up to 600 megawatts per year

Meyer Burger has concluded a further three-year offtake agreement: a major US energy company will purchase highly efficient solar modules from the Goodyear plant with an annual capacity of up to 600 megawatts from January 2026. The contract includes an option for the customer to extend the contract by a further two years and will become effective once the financing of the solar cell plant in Colorado Springs has been completed.

Progress on financing

Meyer Burger reports progress on financing: The due diligence of a major U.S. bank on a monetization under Article 45X of the Inflation Reduction Act (IRA) has been completed. The loan agreements are currently being negotiated and the company is aiming for closing and disbursement by the middle of the third quarter. In this context, Meyer Burger also expects to receive the export financing from a major German bank for the expansion of solar production in the USA.

The final application for the loan from the US Department of Energy (DOE) to finance the solar cell plant in Colorado Springs has been submitted and is currently under review. 

28.06.2024, Meyer Burger

Il materiale informativo del sito è registrato ed appartiene all´azienda o ai terzi che lo hanno fornitoe tutti i diritti sono riservati. Qualsiasi utente che accede a tale materiale può farlo solo ad uso personale e ne è anche responsabile. Ridistribuzione o altro uso commerciale di tale materiale è espressamente proibito. Nel caso in cui il materiale sia stato ceduto da terzi, l´utente concorda di rispettare questi termini di utilizzo specificati. Glass Global non garantisce la veridicità o l´esattezza del contenuto di alcuna informazione o di siti web esterni menzionati nelle stesse.

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.