The solar technology suppliers Meyer Burger Technology is planning major investments in the eastern portion of Germany, including solar cell production facility in Bitterfeld-Wolfen and Freiberg. The Swiss-based company expects the €1 billion investment to increase its capacity from an initial 800 megawatts annually to 5 gigawatts by 2026. The production unit would eventually employ 3,000 people, making it a huge step for the Meyer Burger which has just 730 employees at the moment. The idea is to use the former premises of Sovello and Solarworld, producers of solar panels that went bankrupt several years ago. However, Meyer Burger has been making losses in recent years as a producer of systems for solar panel modules. Its new investment is designed to allow it to produce the modules themselves, meaning it will begin competing with its current customers. Everything will come down to convincing its shareholders of the strategy at an upcoming meeting of the group at which management will propose a CHF 262 million capital increase.
