EIT InnoEnergy backs Norwegian Crystals' ingot production plans
Norwegian Crystals. Image by EIT InnoEnergy (www.innoenergy.com).
September 12 (Renewables Now) - Norwegian Crystals has secured a strategic investment from EU-backed investor EIT InnoEnergy to accelerate production of photovoltaic (PV) ingots at its site in Glomfjord, northern Norway, the latter announced last week.
The EU has increased its renewables ambitions under the RePowerEU plan and is also seeking to create domestic industrial supply. Currently, Europe is dependent on supply from Asia, with China accounting for more than 80% of the key manufacturing stages of solar panels such as polysilicon, ingots, wafers, cells and modules, EIT InnoEnergy said.
"I am confident that with the EU, the industry, and financial institutions working hand in hand, we will achieve the target of producing 30 GW of polysilicon, ingots, wafer, cells and modules in Europe,” commented EIT InnoEnergy chief executive Diego Pavia.
Norwegian Crystals will manufacture its silicon ingots with a significantly lower carbon footprint than those produced in Asia due to the site’s proximity to renewable energy sources and lower logistics-related emissions. With the necessary permits obtained, construction is ready to start in 2022 with off-take and supply agreements in place, according to the announcement. The partnership with EIT InnoEnergy is aimed at a five-fold increase in output compared to the current capacity.
Norwegian Crystals started operations in 2020 as a result of the restructuring of a former Norwegian company. With a current ingot production of 0.5 GWp a year, the business has a target of reaching a production capacity of 10 GWp per year in Glomfjord.