Photovoltaic leader suspends US expansion plan

Recently, Swiss solar panel manufacturer Meyer Burger announced the suspension of its 2GW solar cell manufacturing project in Colorado, USA. Meyer Burger announced the plan in July 2023 and said that the Colorado battery factory will exclusively supply cells for the company's solar module factory in Arizona. Meyer Burger management said: "Since it is no longer economically viable to build a factory in Colorado Springs, the project will be stopped. In view of the revision of the strategy, the planned cooperation with the US technology group will not be implemented at present." Its module production plant in Goodyear, Arizona, is currently in the stage of capacity ramp-up, with a current nominal annual production capacity of 1.4GW, and the original planned 700MW expansion plan has also been suspended. As part of the upcoming restructuring plan, Meyer Burger may continue to advance its expansion process in the future.

Meyer Burger's solar cell production site in Bitterfeld-Wolfen, Thalheim, Germany will continue to operate at full capacity and continue to be its mainstay in supplying cells to U.S. module factories. Its module production plant in Freiberg, Germany has been temporarily closed due to a lack of financial support for local manufacturers. Meyer Burger also said that debt financing previously sought by monetizing 45 times the tax credit will be done on a smaller scale. Management expects its financing needs to be significantly reduced, and the remaining financing gap after the capital increase in April 2024 will also be narrowed. Meyer Burger has begun to develop a comprehensive restructuring and cost-cutting plan. Previously, the company announced that it would postpone the release of its financial results for the first half of 2024 to September 16, 2024, as the company was working to secure additional financing and strategic technology partners. Recently, the company said it would further postpone the release of its financial results to September 30, 2024, or even later.