Meyer Burger Expertise has introduced that its deliberate building of a photo voltaic cell manufacturing facility in Colorado Springs, Colo. is not financially viable for the corporate and that the challenge will probably be discontinued.
The corporate’s deliberate cooperation with a U.S. know-how group is not going to be applied at current in view of the revised technique, added Meyer Burger.
As a part of this realignment, the corporate is slated to deal with the nominal 1.4 GW capability at its module manufacturing plant in Goodyear, Ariz., which is at the moment largely put in and within the ramp-up section. The prevailing cell manufacturing web site in Thalheim, Germany, will stay absolutely operational.
With this association, the corporate expects to have the ability to service the present long-term buy contracts and make the most of the manufacturing capability in Goodyear. The growth of the nominal module manufacturing capability in Goodyear by a further 0.7 GW has been suspended in the interim.
Debt financing beforehand sought by way of the monetization of 45X tax credit will proceed to be pursued on a diminished scale, tailor-made to module manufacturing within the U.S.
In reference to the strategic adjustments, the board of administrators has instructed firm administration to attract up a restructuring and cost-cutting program. Mark Kerekes, member of the board of administrators, has introduced his resignation from the board.
