The order is the first under the framework agreement Midsummer signed with Rusnano Group in September 2019. The normal order value for this type of production line stretches from $3.5 million to $5 million. The current order value is within this range.
This is the first order within the agreement between Midsummer and the Russian government-owned technology giant Rusnano Group that aims to develop the non-silicon flexible photovoltaics market in Russia and the Eurasian Union.
“We are very pleased to finally be a part of the Russian market for building integrated solar panels” said Sven Lindström, CEO, Midsummer AB. “We also look forward to source produced panels for the European market where the demand is higher than Midsummer’s current production capacity”.
Dmitry Krakhin, CEO of Solartek and former CEO of Nanotechnology and Nanomaterials Center of the Republic of Mordovia, added that the launch of the plant targets the demand for integrated solar roofs in the commercial sector and that Midsummer’s technology is perfectly suited for this.
The production line is manufactured in Midsummer’s facility in Järfälla and will be installed in a factory in Saransk, about 630 km east of Moscow. The factory will be run by Nanotechnology and Nanomaterials Center of the Republic of Mordovia and their partner Solartek which promotes solutions for integrated solar roofs.
The Russian Federation has set out to increase and diversify its use of renewables, particularly for power generation. Under current plans and policies, renewables would reach nearly 5 percent of total final energy consumption by 2030. However, according to International Renewable Energy Agency (IRENA), accelerated deployment could boost Russia’s renewable energy share to more than 11 percent in the same timeframe. Achieving this potential calls for cumulative investments of USD 300 billion in renewable energy up to 2030.
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