Meyer Burger announced it plans to start production in May 2021 with an annual capacity of 400 MW each of solar cells and solar modules.
Meyer Burger will use its most advanced production machinery to manufacture solar cells in Bitterfeld-Wolfen.
Meyer Burger’s module assembly plant in Freiberg will start operating. “We aim to become the European leader and a global player in the manufacturing of cells and modules, targeting Gigawatt scale midterm,” says Meyer Burger CEO Gunter Erfurt.
Meyer Burger aims to recruit more than 300 employees for all areas in the first phase. 61 employees in Hohenstein-Ernstthal will be transferred to Meyer Burger’s new sites. Some employees, who do not wish to accept this transfer offer, will leave the company.
At the end of 2020, Meyer Burger reported reduced net working capital of CHF 48.9 million, reflecting the decline in production and sales activities. Due to initial investments in the cell and module factories, tangible assets increased to CHF 38.1 million.
Meyer Burger plans to increase annual capacity to 1.4 GW of cell and 0.8 GW of module production in 2022 by raising a total of at least CHF 180 million of debt by the latest beginning of 2022. Meyer Burger expects annual sales of CHF400 – CHF 450 million and an EBITDA margin of 25% – 30% in 2023.
Meyer Burger is preparing the market entry into the initially targeted residential and small commercial rooftop segment. In a first period, the company will focus on the large European PV markets, starting with Germany, Switzerland and Austria.
In addition, the company will market its modules in the Benelux countries, Italy, France, UK, Poland, and the Nordic countries.
“We are receiving positive feedback on our premium product strategy. With a high-performance, high-quality and innovative module made in Germany, we are meeting what the market demands today. We are optimistic to quickly gain a significant market share in the premium rooftop segment,” says Moritz Borgmann, managing director of Meyer Burger Industries.
Meyer Burger will sell its products primarily through wholesale channels. The products are expected to be launched in collaboration with the distribution partners in April. The premium market positioning will be supported by a redesign of the Meyer Burger brand, and a digital marketing campaign supported by the renowned creative agency Jung von Matt.
Meyer Burger is building up a new sales and marketing organization. Key hires have been made for the leadership positions and experienced solar sales professionals have already been recruited across target countries.