Meyer Burger raises US$258m from share and bond placements

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The company opened cell and module plants in Germany earlier this year. Image: Meyer Burger.

Heterojunction cell and module manufacturer Meyer Burger has raised approximately US$258 million through the placement of shares and green bonds as it looks to accelerate its push into international solar module markets.

The equipment provider-turned-module producer raised CHF80 million (US$86 million) through the placement of more than 155 million newly issued registered shares, which corresponds to approximately 6% of its current share capital

In addition, the firm’s German subsidiary MBT Systems placed €145 million (US$172 million) worth of green senior unsecured guaranteed convertible bonds.

“With the successfully completed private placement of new shares and the green convertible bonds, which were both oversubscribed, Meyer Burger is ready to accelerate the next growth phase including the entry into the utility-scale segment,” said CEO Gunter Erfurt.

Having opened cell and module plants in Germany in May, Meyer Burger has since secured a syndicated loan agreement for €125 million and a further factoring agreement for €60 million to accelerate its manufacturing capacity expansion.

The company is aiming to reach 1.4GW of both cell and module capacity by the end of 2022, processing the entire cell production into modules itself, and will not sell its heterojunction solar cells to third parties as previously planned.

By the end of September, the firm will decide on the exact location of its second module plant, which is expected to manufacture both utility and rooftop modules.

Read Next

July 29, 2021
Meyer Burger has revealed plans to launch a solar roof tile product, expanding its rooftop solar product range.
July 26, 2021
Meyer Burger is considering its legal options after long-time heterojunction tandem solar cell manufacturing partner Oxford PV ended its collaboration agreement unexpectedly.
July 19, 2021
A round-up of the latest product news, featuring Philadelphia Solar’s plans for a 1GW module plant in the US, REC Group’s new N-Peak 2 panel and Meyer Burger’s IEC certification success.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 9, 2021
German renewables asset operator Blue Elephant Energy has shelved plans for an initial public offering (IPO) after it secured a €75 million (US$88.8 million) cash injection.
July 6, 2021
Poland’s R.Power has entered the German solar market after signing co-development agreements with local developers to collaborate on PV projects in the country.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK