Swedish solar energy leader Midsummer has signed a letter of intent (LOI) with one of Europe's leading producers and suppliers of waterproofing products and services for buildings and infrastructure for the supply of more than 300MW solar panels over a five-year period starting from next year.

 

"This is by far our largest single offtake agreement to date and further proof of how attractive our thin film solar cells are for the electricity-producing roofs of the future," remarked Midsummer's CEO Sven Lindström. 

 

"The production from our new and planned mega factories are being taken at a rapid pace," he stated.

 

As per the new letter of intent, Midsummer will deliver at least 303 MW of solar panels to this northern European player in the years 2023 through 2027.

 

In total, Midsummer has now signed offtake agreements for the pre-sale of more than 700 MW of solar panels to be delivered from is new and planned mega-factories that Midsummer is currently seeking finance for.

 

In a first step, Midsummer seeks to expand annual production capacity by 20 MW, with a possible scale-up to 200 MW. In addition, the factory in Bari, Italy that Midsummer is completing will have a production capacity of 50 MW, a large part of which is already taken through agreements with a number of Italian construction and roof companies.

 

In November, Midsummer announced the signing of ten letters of intent for a total of just over 330 MW of solar cells, see here and here.

 

Lindström pointed out that Midsummer's thin film solar cells are produced with in-house developed world-leading machinery. 

 

"Midsummer's CIGS solar cells require no silicon, no aluminum frames and no glass encapsulation, which, together with efficient material consumption, production and installation, has created the world's most environmentally friendly way of producing electricity known today with a climate footprint that is only one-tenth that of silicon panels," he added.-TradeArabia News Service