Carbon has acquired Photowatt and says it will invest €40 million ($44.6 million) to support its operations.
French solar panel manufacturer Carbon has completed the acquisition of PV producer Photowatt from EDF Renouvelables, a subsidiary of French energy giant EDF.
Photowatt will be integrated into Carbon’s industrial project, which includes plans for a 500 MW solar panel assembly unit and a photovoltaic cell production facility and 3.5 GW from 5 GW by 2026-2027.
Carbon said it will also establish the Carbon Lab, a research center to support its manufacturing operations, with a focus on scaling up production by 2027.
Carbon has proposed an investment of €40 million to create a 500 MW photovoltaic module production unit at Photowatt’s Bourgoin-Jallieu site, to be completed by the end of 2025.
Carbon said the acquisition is a strategic step to meet the growing demand for Made-in-France solar panels, especially in the residential market, and to optimize production processes. Photowatt will also serve as a pilot facility for testing and refining module production.
EDF Renewables, which acquired Photowatt in 2012, was looking for an industrial partner to manage the 170-employee factory, which was facing financial challenges from Chinese competition. EDF Renewables is convinced that the acquisition of Carbon Photowatt will give new impetus and help secure employment at the site.
“EDF Renewables believes that Carbon’s proposed acquisition project for Photowatt would provide new impetus to support the company’s operations and secure jobs at the site,” said Bruno Fyot, deputy CEO of EDF Renewables.
Carbon still needs to secure €1.7 billion to build its 5 GW plant in Fos-sur-Mer, France.
Founded in 1979 as a Philips spin-off for satellite PV cell research, Photowatt switched to industrial production in 1990 but has struggled to compete with Chinese manufacturers despite its current 200 MW capacity.
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