Meyer Burger to take a US$2.2 million loss on heterojunction solar cell line contract

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Ecosolifer’s new Hungarian facility was built with an annual nameplate capacity of around 350MW, while the initial contract with Meyer Burger equipment was around 100MW. Image: Ecosolifer

Meyer Burger Technology has agreed a settlement with Swiss headquartered PV manufacturer, EcoSolifer over a 2015 on heterojunction (HJ) solar cell line contract that will result in a CHF 1.97 million (US$2.22 million) loss for Mayer Burger.

The company said that EcoSolifer had previously signed a contract in 2015 for a heterojunction solar cell line in 2015, yet had temporarily suspended the deal in 2016, resulting in Meyer Burger storing the built equipment.

Recently, Meyer Burger installed the equipment and achieved final acceptance at Ecosolifer’s plant in Csorna, Hungary.

However, Meyer Burger said that it would make an impairment charge of CHF 2.86 million (US$3.22 million) for its current financial year on the delayed installations from 2015. This would result in a net loss of CHF 1.97 million (US2.22 million).

Although Meyer Burger had announced this year it was exiting the PV equipment sector and becomes a dedicated PV manufacturer of HJ modules at the former SolarWorld manufacturing facilities in Germany, the company had agreed with Ecosolifer that it would provide support services to the Hungarian PV manufacturer and had received a net cash inflow of CHF 0.89 million (US$1.0 million) advanced payment for the support services. 

Ecosolifer’s new Hungarian facility was built with an annual nameplate capacity of around 350MW, while the initial contract with Meyer Burger equipment was around 100MW. Ecosolifer has plans to expand capacity to around 2GW through 2022. The PV manufacturer would need to source equipment from alternative equipment suppliers to achieve its goals. 

Read Next

March 3, 2021
Russia’s largest solar farm is to be constructed over the coming year using heterojunction (HJT) solar panels from Hevel.
February 24, 2021
A European Commission-backed project has been launched to scale up Europe’s PV manufacturing industry and capture the continent’s “booming demand” for solar equipment.
February 22, 2021
BayWa r.e. has bolstered its digital services offer through the acquisition of software platforms and data science teams of German firm Kaiserwetter.
February 16, 2021
Integrated PV module manufacturer REC Group has said its CEO of six years, Steve O’Neil, is to leave the company at the end of this month.
February 10, 2021
As the technology continues to mature, the race to successfully commercialise and drive heterojunction (HJT) manufacturing to the multi-gigawatt level is getting increasingly competitive. PV Tech spoke to Jinergy chief executive officer Liyou Yang to determine what the remaining challenges are in relation to mass HJT manufacturing, and how close the industry may be to it.
February 9, 2021
Major ‘Solar Module Super League’ (SMSL) member JinkoSolar has extended its supply chain cooperation with major polysilicon and merchant solar cell manufacturer Tongwei Group, with Tongwei gaining extra gigawatts of mono wafers from JinkoSolar.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021