European joint venture to produce solar panels in Luxembourg
Socom, a technical building engineering company from Luxembourg, and Belgian solar company Evocells have announced plans to merge and become a new company called Solarcells.
The European joint venture will open a PV module factory in Hollerich, Luxemburg, at the end of this year. In the first phase, the facility will have 50 MW of capacity, producing nearly 100,000 solar modules per year, according to a statement from the government of Luxembourg. Solarcells plans to double the factory’s capacity to 100 MW by 2026.
Each “made-in-Luxembourg” solar panel will cost €15 ($16.20) to €18 more than panels made in Asia, Socom President Marc Thein said during the factory’s announcement press conference, without disclosing the technical details of the panels. Evocells will reportedly play a leading role in purchasing raw materials and streamlining supply chain management, while prioritizing materials of European origin.
“It is easier to produce locally in order to be less dependent on the supply of components and deliveries from the other side of the world,” said Thein.
The new facility will require an initial investment of €5 million ($5.4 million) and will create around 20 jobs.
“Solar energy is booming in Luxembourg … this energy source is not only clean and helps the Grand Duchy to achieve its renewable energy development objectives, but it is also produced locally and is part of the solutions to break out of dependence on Russian fossil fuels,” said Luxembourg Energy Minister Claude Turmes. “The Socom project, which aims to produce photovoltaic panels on the national territory, helps us to strengthen this independence: from the production of the panels to the production of solar energy, the local energy transition is accelerated.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.