Midsummer buys industrial plant in Italy

Today Midsummer signed a purchase agreement on an industrial plant in Bari in southern Italy to start a large-scale production of solar panels, in a region that is ranked number one in Italy in electricity production from solar installations.

The premises are 3880 sqm large and contain both offices and areas optimal for large-scale production of Midsummer’s building integrated solar panels. The factory will have a peak capacity of 50MW per year. Work on the factory layout design has begun.

“We are happy to have signed the agreement on our new factory in Italy today according to our plans which we communicated during the recently finalized new share issue”, said Sven Lindström, CEO, Midsummer. “The premises and location are perfect for our purpose with fantastic climate, optimal solar radiation and in the middle of the very interesting southern European solar market*.”

The Apulia region ranks as no.1 region in electricity production from solar installations. Being present there will therefore mean an edge for getting business in the region.

“I’m very pleased with our new location and I’m looking forward to starting work on site. We are now planning for both setting up the production lines, with the Midsummer DUO as the obvious key player, and recruit staff”, said Jarno Montella, CEO, Midsummer Italia. “Of course, we will have Midsummer solar panels installed on the roof of the building.”

* 2018 16 billion EUR was invested in solar cells in Europe, with a growth of 87 % from the previous year.
 2019 21 billion EUR was invested in solar cells in Europe, with a growth of 31 % from the previous year.


Source: GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT 2020, UN & BloombergNEF, GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT 2019, UN & BloombergNEF 
 

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