Meyer Burger shifts cell strategy to keep production in-house and also accelerate development strategies

• Meyer Burger will certainly no more offer the heterojunction cells it produces to 3rd parties in a significant shift in technique, accelerating its capability growth strategies in the process.

Yesterday Meyer Burger announced that it had actually secured EUR185 million (US$ 224 million) in debt money to help better increase its heterojunction cell as well as module ability. The company has closed a syndicated car loan arrangement for EUR125 million and also an additional factoring arrangement for EUR60 million, the earnings of which will certainly be made use of to expand annual production capability at both its centers.

Having previously confirmed strategies to raise around CHF180 million (US$ 200 million) in debt financing by 2022 to broaden its interior manufacturing capacity to 1.4 GW of cells and 800MW of modules, Meyer Burger has now changed its approach to rather create 1.4 GW of both cells and modules, shutting the void between both.

The devices provider-turned-cell and module maker will now not offer its heterojunction solar cells to 3rd parties, as was at first the business's intention, however to rather keep production in-house.

It will currently expand module construction at the firm's Freiberg site to 1GW and establish a 2nd module fab center with a preliminary capacity of 400MW by the end of 2022.

Franz Richter, chairman of the board of directors at Meyer Burger, stated the adjustment in technique would enable it to focus on the higher-margin module organization, while the closure of the financing facilities would certainly permit the firm to broaden faster than intended.

A selection procedure for the second module fab has actually begun, as well as Meyer Burger stated the style of the facility will be flexible to enable it to generate both utility-scale modules and rooftop modules, replying to market demand.

Meyer Burger further iterated plans to boost cell and also module production ability to 5GW by 2026 and also 7GW by 2027, plans which would certainly require added manufacturing websites to be established.

"Now, we can drive the capability growth for our high-performance cells as well as modules at full speed," Gunter Erfurt, CEO at Meyer Burger, stated.

Meyer Burger is now forecasting sales of at least EUR500 million for 2023, a gross margin of at least 40% as well as an EBITDA margin of a minimum of 25%. Its item delivery mix by 2023 will certainly be comprised of approximately 30% of utility-scale modules. The long-lasting ambition is to buy to have actually reached at the very least EUR1.8 billion by 2027, with an EBITDA margin of a minimum of 30%.