Meyer Burger shifts cell strategy to keep production in-house and accelerate expansion plans

Meyer Burger no longer intends to sell its heterojunction cells to third parties. Image: Meyer Burger.

Meyer Burger will no longer sell the heterojunction cells it produces to third parties in a major shift in strategy, accelerating its capacity expansion plans in the process.

Today (16 June 2021) Meyer Burger announced that it had secured €185 million (US$224 million) in debt finance to help further expand its heterojunction cell and module capacity. The company has closed a syndicated loan agreement for €125 million and a further factoring agreement for €60 million, the proceeds of which will be used to expand annual production capacity at both its facilities.

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

Having previously confirmed plans to raise around CHF180 million (US$200 million) in debt financing by 2022 to expand its internal production capacity to 1.4GW of cells and 800MW of modules, Meyer Burger has now altered its strategy to instead produce 1.4GW of both cells and modules, closing the gap between the two.

The equipment provider-turned-cell and module manufacturer will now not sell its heterojunction solar cells to third parties, as was initially the company’s intention, but to instead keep production in-house.

It will now expand module fabrication at the firm’s Freiberg site to 1GW and develop a second module fab facility with an initial capacity of 400MW by the end of 2022.

Franz Richter, chairman of the board of directors at Meyer Burger, said the change in strategy would allow it to focus on the higher-margin module business, while the closure of the financing facilities would allow the company to expand faster than planned.

A selection process for the second module fab has started, and Meyer Burger said the design of the facility will be flexible to allow it to produce both utility-scale modules and rooftop modules, responding to market demand.

Meyer Burger further iterated plans to increase cell and module production capacity to 5GW by 2026 and 7GW by 2027, plans which would require additional manufacturing sites to be established.

“Now, we can drive the capacity expansion for our high-performance cells and modules at full speed,” Gunter Erfurt, CEO at Meyer Burger, said.

Meyer Burger is now forecasting sales of at least €500 million for 2023, a gross margin of at least 40% and an EBITDA margin of at least 25%. Its product shipment mix by 2023 will be made up of up to 30% of utility-scale modules. The long-term ambition is for sales to have reached at least €1.8 billion by 2027, with an EBITDA margin of at least 30%.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 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.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will 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 out to 2030 and beyond.

Read Next

May 30, 2024
Fraunhofer ISE has developed a TOPCon solar cell with a power conversion efficiency of 24%, which is comprised of M10 silicon wafers.
May 28, 2024
Authors from Kiwa PVEL explore how and why they have seen that the test results on individual bill of materials combinations vary.
May 28, 2024
The European Council has adopted the EU’s Net-Zero Industry Act as the EU looks to bolster its clean energy manufacturing industries.
May 27, 2024
PV Tech Power spoke with Lukas Jakisch of PV testing company TÜV Rheinland about the developments and challenges facing the sector.
May 24, 2024
Waaree Energies has signed an agreement to supply 445MW of modules to Statkraft India for a project in Bikaner, Rajasthan.
May 22, 2024
The global price of silver has continued to rise, with the average price increasing to RMB8,211/kilogram (US$32.03/ounce), a historical high.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore