Midsummer obtains state give for 50-MW solar cell manufacturing facility in Italy

Apr 11, 2023 03:46 PM ET
  • Swedish thin-film solar modern technology business Midsummer AB (STO: MIDS) has actually received the initial tranche of a EUR-22-million (USD 24.0 m) direct support package protected from the Italian state to construct a manufacturing facility developed to generate 50 MW of thin-film solar cells per year.
Midsummer obtains state give for 50-MW solar cell manufacturing facility in Italy
Image: midsummersolarroofs.se

Midsummer on Tuesday claimed that it has actually obtained a give payment of EUR 6.4 million from the Italian investment authority Invitalia. The initial tranche followed the firm met the requirements under the agreement, namely having 5 DUO machines already installed at the plant in southern Italy.

The Swedish firm currently expects a smaller establishment grant to be paid quickly from the Italian region of Puglia.

The factory, based in Bari, Puglia is set up to end up being operational later in 2023. It is expected to be the largest of this key in Europe in terms of capability.

Midsummer first introduced that it has actually obtained "establishment support" from the Italian state for the Bari manufacturing facility in November 2021. A year later on, the parties settled on the last regards to the grant payments, a little modifying the project with a stronger focus on the manufacturing of completion items and reducing the R&D budget.

At the same time, the Swedish firm, which currently operates a 2-MW factory at home, last year pledged to expand its global production capabilities amid soaring demand.

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