Meyer Burger secures EUR 185 million debt financing for further expansion of cell and module capacity starting production in 2022
- The Meyer Burger group closes a syndicated loan agreement for EUR 125 million and a factoring agreement for EUR 60 million.
- The debt financing of EUR 185 million serves to expand the annual production capacity to reach 1.4 GW of solar cells in Thalheim (Bitterfeld-Wolfen), Germany and 1 GW of modules in Freiberg, Germany.
- Meyer Burger is no longer planning to sell solar cells to third parties but will instead process all solar cells from its own production into modules. A second module factory is planned to start operations in 2022 with an initial capacity of 0.4 GW, balancing cell and module capacity.
- Meyer Burger thus accelerates its expansion plans, already aiming to reach a nominal cell and module capacity of 1.4 GW each by the end of 2022.
The loan agreement for EUR 125 million with a syndicate led by Ostsächsische Sparkasse Dresden, Germany was signed on June 15, 2021. Further lenders include a group of savings, development and cooperative banks. The loan, which matures on June 30, 2027, is to be used to finance investments to expand production capacity at the Bitterfeld-Wolfen (Saxony-Anhalt, Germany) and Freiberg (Saxony, Germany) production sites