Solar module manufacturer Seraphim Energy Group has agreed to supply 1GW of PV modules to European energy company Resolar for its EU operations.
The companies signed a memorandum of understanding (MoU) in early July, with the modules set to be provided over the course of 2023 and used in Luxembourg-based Resolar’s European portfolio.
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It is being conducted under the EU’s REPowerEU strategy that was instigated in light of Russia’s invasion of Ukraine and the continent’s current energy crisis. REPowerEU is targeting 400GW of solar PV by 2025 and almost 740GW by 2030. PV Tech has explored what REPowerEU means for European solar in one of our Insights webinar series, which you can view for free here.
President of Seraphim, Polaris Li, who has spoken with PV Tech Premium about how his company was planning for a ‘post-PERC’ era of solar PV, said European countries were pushing forward energy transition plans and that Seraphim was hoping to take advantage of the increased urgency and large market size.
In the first quarter of this year, the EU imported 16.7GW of PV modules from China, up 145% year-on-year, according to data cited by Seraphim, while deployment on the continent is expected to reach a record 39GW this year.
It is unclear what modules Seraphim will be supplying to Resolar for its European projects but at the start of the year the company launched its S5 series of high-efficiency PV modules with a maximum power output of up to 670W and an efficiency of 21.57%.
Since then, it has also released its S3 and S4 series lightweight dual-glass PV modules, in order to meet increasing demand for distributed rooftop PV products.