Meyer Burger clarifies US$225 million share issue to support US expansion

Facebook
Twitter
LinkedIn
Reddit
Email
meyer burger
Meyer Burger will issue up to 20,144,423,886 new shares at a subscription price of CHF 0.01 per share. Image: Meyer Burger

Swiss-owned solar manufacturer Meyer Burger has clarified the terms of its recently-announced rights issue, designed to raise money towards its US manufacturing expansion plans.

As per its announcement in February, the rights issue will seek to raise CHF 200 million (US$225 million) towards its Arizona module assembly plant and Colorado cell production plant, both of which are under construction. The sites will produce heterojunction technology (HJT) products.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Meyer Burger will issue up to 20,144,423,886 new shares at a subscription price of CHF 0.01 per share. Eligible current shareholders will receive one subscription right for every share they own, and five share rights will enable the holder to subscribe for up to 28 new shares. In an Extraordinary General Meeting held yesterday (18 March), shareholders – representing nearly 38.1% of the share capital entered in the Commercial Register – approved the terms of the ordinary capital increase.

The manufacturer’s biggest shareholder, Sentis Capital, has committed to exercise all of its subscription rights up to a value of CHF 50 million (US$56 million) and potentially to purchase shares that are not subscribed in the rights issue. According to Reuters, Setis Capital is owned by Russian billionaire Petr Kondrashev.

A subsidiary of Meyer Burger’s largest client, D.E Shar Renewable Investments (DESRI), has agreed to purchase unsubscribed shares up to the value of US$20 million. The two companies signed a 5GW module supply agreement in 2022.

These two commitments represent 33.5% of the target gross proceeds of the capital increase. Members of the company’s board of directors and executive committee also intend to exercise their subscription rights, covering another 0.37% of the share capital in aggregate.

In a statement, the company said that it “continues to pursue additional financing sources” to support its US expansion. In particular, it highlighted the Section 45X manufacturing production credit, which it cited as a reason for its move to the US in a letter to the US Internal Revenue Service in November 2022.

Finances in the red

Meyer Burger closed 2023 with a US$330 million net loss. It abandoned its production facility in Thalheim, Germany, in January 2024, following a year in which the European solar manufacturing industry was squeezed by lowering prices and a glut of imports from Chinese companies.

In a joint statement following its earnings call, chairman Franz Richter and CEO Gunter Erfurt said: “As the year progressed, it became clear that dumping prices from Chinese suppliers in Europe, coupled with a sharp rise in Chinese production overcapacity and a lack of market protection, led to unprecedented distortions in the European solar market, which had a serious impact on Meyer Burger’s earnings.”

However, their US forecast was more optimistic: “Assuming that cell and module production at the US sites can be ramped up as planned, the group expects to generate an annual EBITDA of around CHF250 million per year in the medium term from its business in the US.”

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

July 9, 2025
Caelux has finished the first sale of its perovskite glass, which will be paired with a silicon module developed by a 'reputable manufacturer'.
Premium
July 9, 2025
PV Talk: Jon Previtali of VDE Americas explains the hard science behind managing hail risk, one of the costliest sources of damage to PV projects.
July 8, 2025
The Chinese government has moved to curb excessive competition in the PV sector and stabilise pricing as companies report growing losses.
July 8, 2025
Donald Trump has issued an executive order to tighten restrictions on renewable energy tax credits just days after signing his “One, Big Beautiful Bill” act into law, which significantly cut federal support for renewables.
July 7, 2025
The board of REC Silicon is running out of time on a buyout offer by Korean conglomerate Hanwha previously dismissed as "lowball".
July 4, 2025
Risen Energy’s mass-produced heterojunction (HJT) modules have reached a cell conversion efficiency of 26.61%, a record figure for the company.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK