This is linked to Saab's ongoing defense and security operations and Colombia's policy for industrial cooperation and technology transfer.
In November 2024, the parties signed a Memorandum of Understanding, which is a long-term, comprehensive framework to explore and identify potential industrial cooperation activities for applications in export markets. The focus of the collaboration is on solar energy manufacturing and technology, which is a core part of Midsummer's expertise.
The parties have jointly identified opportunities for the establishment of a factory in Colombia for the production of thin-film solar cells using Midsummer's proprietary technology and production equipment. Midsummer will be responsible for the design and establishment of the factory, as well as selling all production equipment to it.
In May, Midsummer received its first order worth over SEK 143 million for machinery from Saab, for a solar cell factory with an annual production capacity of 15 MW. Saab has an option to expand the production capacity at the said factory from 15 MW to a large-scale production facility, which could happen in several stages over the coming years.
“We are pleased to be able to begin concrete discussions with Saab with the ambition to deliver a large-scale complete solar cell factory to Colombia” said Eric Jaremalm, CEO, Midsummer. "It is a project that demonstrates the scalability of Midsummer's production system where our unique technology platform helps countries in their green transition while creating national growth. We have already established a sales company in Colombia with an initial staff of three and are already noticing a large commercial interest in the region for our products based on the factors of high electricity prices, strong solar radiation and a large number of flat weak roofs for which our solutions are ideal."
It was on May 5th of this year that Midsummer announced an order for a production system with a capacity of 15 MW from a then-unnamed defense and security company (which is Saab) with an order value of SEK 143.5 million [$15.2 million; 13.1 million euros].
Colombia has long-term and ambitious programs and plans to increase the share of renewable energy in its energy mix and in a democratic manner. The Colombian authorities have shown great interest in Midsummer's technology and production. The specific definition and timing of the project and its associated activities will be decided through dialogue with the relevant authorities in Colombia.
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