Midsummer secures funds from Italian state to build 50-MW solar roof factory

Rooftop using flexible solar panels. Source: Midsummer AB

November 2 (Renewables Now) - Swedish thin-film solar technology company Midsummer AB (STO:MIDS) announced that it has received “establishment support” from the Italian state to set up a factory in Bari, Italy, to produce 50 MW of building integrated solar panels per year.

The establishment support, in the form of grants and loans, amounts to SEK 390 million (USD 45.7m/EUR 39.4m), Midsummer said on Monday. The funds were granted by the ministry of economic development (MISE) and Italian investment authority Invitalia, and will contribute to the investment budget of around SEK 660 million needed to realise the entire factory project.

In late 2020, Midsummer purchased an industrial facility that will become the new factory. The company said it can now start buying the equipment and recruiting staff in both Sweden and Italy.

The Bari factory is scheduled to start production in the summer of 2022. Its solar cell roofs will be mainly sold to customers in southern Europe, Midsummer added.

(SEK 1.0 = USD 0.117/EUR 0.101)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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