Carbon, a French manufacturer of PV modules, has unveiled plans to acquire panel manufacturer Photowatt, part of French energy giant EDF.
French solar panel manufacturer Carbon has announced a “draft agreement” to acquire PV module manufacturer Photowatt from its current parent company, EDF Renouvelables, part of French energy giant EDF.
“We guarantee the maintenance and growth of the site in Bourgoin-Jallieu (Isère), as well as the preservation of all jobs,” says France Etienne Roche, director of engagement at Carbon. pv magazine France.
Roche did not provide details of the meeting with Photowatt employee representatives on September 19.
Carbon faces the challenge of convincing Photowatt’s 170 employees of its takeover plan. A survey by the FO Energy trade union shows that only 12.6% (20 employees) support the project, while 78.6% (125 employees) are in favor of ceasing activities with a redeployment plan at EDF or external support.
FO Energy is concerned about Carbon’s unsecured financing and the company’s limited experience in the solar energy sector.
Carbon has yet to secure the €1.7 billion ($1.89 billion) needed to build its 5 GW plant in Fos-sur-Mer, southern France.
Founded in 1979 as a Philips spin-off for satellite PV cell research, Photowatt moved into industrial production in 1990, focusing on cells, wafers and modules. Despite its current capacity of 200 MW, the Grenoble-based company has struggled to compete with Chinese rivals and remains in deficit even after being acquired by EDF Renouvelables in 2012.
Attempts at acquisition and collaboration, including with Canadian Solar and EMC Greentech, have failed. Photowatt recently produced solar panels for the Paris 2024 Olympic Games.
The acquisition of Carbon appears aimed at accelerating the production timeline of the giant factory, which would otherwise not start before 2026-2027 due to permits and construction work. In May, Carbon introduced ‘Carbon One’, a plan to install 500 MW of solar panels by 2025, at the Choose France trade fair.
However, the French unions CFDT, CFE-CGC, CGT and FO doubt the success of the project.
“EDF Renouvelables is largely financing the acquisition operation to adapt the location to the project, because Carbon does not have the resources for this,” they said in a joint statement. “In this context, employees believe that EDF Renouvelables is trying to improve its image by delegating the closure of Photowatt to a third party.”
EDF Renouvelables, contacted by pv magazine Franceconfirmed that Carbon aims to “improve and sustain the site, while retaining all jobs,” a company spokesperson said, providing further details.
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