The Swedish solar manufacturer says it wants to focus on international expansion with a significantly less capital-intensive business and financing model for new factories.
Swedish thin film solar manufacturer Midsummer is putting plans for a new solar cell manufacturing factory in the southeastern municipality of Flen on hold.
Plans for the factory, intended to produce copper indium gallium selenide (CIGS) solar cells, were first announced in 2023.
Midsummer says the financing of the factory was negatively impacted after the company was rejected for an expected investment grant from the Swedish Energy Agency’s Industriklivet program.
“We would be happy to establish a new factory in Sweden in the future when commercial and financial conditions allow it, but it will not happen within the framework of the specific project planned for Flen for which we have been awarded time-limited EU support,” commented Midsummer CEO Eric Jaremalm.
