Sweden-based global leader in CIGS thin-film cell solutions, Midsummer announced that it has signed letters of intent (LOIs) with six companies for the pre-sale of 107MW thin-film solar modules. These businesses include the manufacture of roofing materials, property management, and solar panel installation.
Midsummer’s Swedish factory has an annual capacity of 2 MW. The wholly-owned subsidiary Midsummer Italia is set to begin mass production and reach reach in 2023 an annual capacity of 50 MW. Together, Midsummer has a total capacity of around 52 MW per year.
Earlier this year, Midsummer signed agreements with three Italians building materials and roofing companies To deliver 15 MW per year – a total of 75 MW for five years. In addition to the deals mentioned today, Midsummer has now signed LOIs and agreements for the supply of 182 MW thin film solar cells.
Being able to sign so many large off-take agreements for future solar cell supplies in such a short period of time is clear evidence of super strong demand for our attractive and sustainable products and confirms our aggressive growth plans.
—said Sven Lindstrom, CEO of Midsummer.
The company owns the entire value chain; its thin-film solar cells are made on its flagship machine Midsummer DUO. The technology, processes and business are commercially proven after decades of experience as a manufacturer of unique, state-of-the-art production lines and solar panel and roofing products.
Midsummer’s CIGS cells require no silicon, no aluminum frames and no glass encapsulation for efficient material usage, production and installation. midsummer states in his current sustainability report that it created the world’s most environmentally friendly way of generating electricity known today.
“Midsummer products have a life cycle carbon footprint that is up to 90 percent lower than traditional panels and even lower than wind and hydropower. Together with our other advantages in terms of appearance, weight, durability, easy installation without a mounting system and installed power per roof, it becomes an unbeatable offer,” explains Lindström.
The company recently announced plans to raise capital to build a new Swedish factory with an initial annual capacity of 20MW and eventually 200MW. Midsummer also has an ambitious long-term goal of achieving at least 1,000MW of capacity by 2030, and further construction plans are on the agenda.