Midsummer obtains pre-sale orders for 107 MW of PV cells

• Swedish thin-film solar technology professional Midsummer AB (STO: MIDS) has been picked to deliver greater than 100 MW of solar (PV) panels, both in the house and abroad.

The business stated on Saturday it has actually authorized letters of intent (LOIs) with six Swedish and global roofing product manufacturers, property business as well as solar cell installers for the pre-sale of the tools. The contracts, equating to 107 MW of PV cell capacity, include in 75 MW of agreements in Italy and bring Midsummer's order book to 182 MW.

"We remain in various stages of LOI talks with other sector gamers than the ones announced today, in an effort to get to much bigger sales quantities. The market for our items is enormous and also grows rapidly," claimed chief executive officer Sven Lindstrom, adding that the new contracts underpin the company's "hostile" growth plans.

Midsummer presently runs a 2-MW factory in Sweden and is due to open a 50-MW plant in Bari, Italy, in 2023. Last month, it stated it would look for to increase its international manufacturing abilities with an extra capacity of about 20 MW in Sweden, in the middle of a broader strategy that might scale up its making to 200 MW per year.

The Swedish firm's long-term vision is to get to an annual production capacity of at least 1 GW by 2030 by constructing numerous mega-factories throughout Europe.