[Stockholm, Sweden, and Puglia, Italy] - Midsummer, a global Swedish solar energy company, announced on June 27 that it has received a grant of approximately SEK 91 million from the Italian investment authority Invitalia. This funding will support the completion of its thin film solar cell manufacturing plant in Bari, Italy.
This payment marks the second installment under the agreement between the two parties. It follows a successful factory inspection conducted by Invitalia in late April. With all manufacturing equipment now installed, the factory is poised to ramp up production once factory and product certifications are complete.
In total, Midsummer will receive roughly SEK 235 million in grants, facilitating the launch of what will become Europe's largest thin-film solar cell production facility, boasting an annual production capacity of 50 MW.
The initial payment of approximately SEK 73 million was disbursed last year. Additional funds, including a smaller payment from the Puglia Region, are expected in the summer of 2024, with the final production-related amount set for 2025, totaling around SEK 20 million.
Additionally, about SEK 50 million earmarked for the R&D segment of the project will be disbursed in stages from 2025, contingent upon Midsummer achieving specific milestones.
Another Milestone Reached
“It is very gratifying to receive these funds, confirming our solid cooperation with Invitalia,” said Eric Jaremalm, CEO of Midsummer. “The Bari factory positions us as a leader in thin-film solar cells in Europe, especially for industrial roofs that cannot support the weight of silicon panels. This represents a significant market estimated at 25 GW (€20-30 billion) annually.”
Midsummer is also planning a new 200 MW factory in Flen, Sweden, set to begin production in 2026.
Invitalia, owned by the Italian Ministry of Finance, is focused on bolstering Italy's economic growth by investing in strategic sectors like renewable energy.
