IKEA’s funding arm goes to purchase Arizona-made photo voltaic modules from Swiss photo voltaic panel maker Meyer Burger from 2025 to 2029.

On account of the cope with IKEA, Meyer Burger‘s manufacturing capability at its manufacturing facility in Goodyear, Arizona, goes to extend from round 1.6 gigawatts (GW) to 2 GW yearly.

Meyer Burger made the offtake settlement with Ingka Investments, the funding arm of IKEA’s retail father or mother, Ingka Group.

Frederik de Jong, head of renewable power at Ingka Investments, mentioned, “This settlement is a wonderful begin, each for our ambitions to take a position additional in renewable power manufacturing within the US and for our partnership with Meyer Burger, an organization with excessive ESG requirements and a shared dedication to make important contributions to decarbonization and the 1.5 diploma goal of the Paris Local weather Settlement.”

The 2 firms didn’t share monetary particulars concerning the deal.

PV Journal says that “Ingka Investments will guarantee a considerable annual advance fee to allow Meyer Burger to acquire and finance equipment in addition to uncooked supplies for photo voltaic module manufacturing.”

Meyer Burger says that the photo voltaic modules it’s making are electrically and size-optimized for utility-scale purposes. Its photo voltaic panels characteristic a bifaciality of over 90%.

In August 2022, Meyer Burger entered right into a provide settlement with US developer D.E. Shaw Renewable Investments to provide between 3.75 and 5 GW of photo voltaic panels made at its Goodyear manufacturing facility between 2024 and 2029.

Meyer Burger selected Goodyear, Arizona, to be the location for its first US photo voltaic module manufacturing facility (pictured) in December 2021, and it initially introduced its annual manufacturing capability there could be 400 MW. The Biden administration’s Inflation Discount Act helped to stimulate demand within the photo voltaic sector and thus enhance Meyer Burger’s plans for manufacturing capability.

Learn extra: People will quickly have the ability to purchase residence photo voltaic panels from IKEA

Picture: Meyer Burger

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