ersol Solar Energy will undergo a major expansion in terms of production following the announcement of a planned €530 million in investment from parent company the Bosch Group, which acquired 50.45% of ersol’s shares in June 2008. The investment will be spent on construction of a new manufacturing facility for crystalline solar cells adjacent to the existing research facility in Arnstadt, Germany, a module manufacturing ‘shop,’ and a new administrative building and expansion of the research facility, all of which are expected to generate an estimated 1,100 new jobs.
The expansion will see the near-tripling of crystalline manufacturing capacity to a nominal capacity of around 630MWp. The investment will inject close to €530 million in the company from now until 2012, and will help to further the company’s growth. Sales for 2008 are expected to exceed €300 million, while projections for 2009 show an expectation of over €400 million.
Supported by both the federal and state governments, the ersol Board of Management, who proposed this investment initially, have also applied for government subsidies that could total a tenth of the €530 million. The subsidies are subject to European Commission approval.
“With the financial strength of Bosch and our exceptionally dedicated workforce, we have everything we need for an extremely positive development,” said Holger von Hebel, Chairman of the Management Board of ersol Solar Energy AG.