The sale of module and cell production equipment to Waaree Solar Americas and Babacomari North Solar, respectively, further reduces Meyer Burger's prospects of restoring domestic production capacity.
Photovoltaic technology manufacturer Meyer Burger Group announced it has abandoned plans to restructure as a whole, citing difficulties in securing a bailout from investors. The company has also sold machinery and equipment from its US factories.
This news virtually spells the end of Meyer Burger's last hope for US manufacturing.
The Swiss company sold nearly $29 million worth of factory equipment, including a 1.4 GW annual module factory in Goodyear, Arizona, and a now-abandoned 2 GW cell factory project in Colorado Springs, Colorado.
Meyer Burger halted production at its Arizona factories in May and laid off nearly 300 employees. In August 2024, the company officially terminated plans for the Colorado factory, which had been expected to employ over 350 workers.
The company announced that the asset sales totaled $29 million, with Waaree Solar Americas Inc. acquiring module production equipment and Babacomari Solar North LLC acquiring cell production equipment. However, the announcement did not disclose the specific transaction prices.
According to the online news platform USA Herald, Waaree bid $18.5 million in cash, while Babacomari bid $10.2 million in credit lines.
In April, India-based Waaree announced plans to double its module production capacity from 1.6 GW to 3.2 GW in Brookshire, Texas.
There is no clarity on the intended use of Babacomari's equipment, including its intended use and whether the company has any photovoltaic manufacturing experience. Contact information is also very limited.
Babacomari was the developer of record for a 160 MW photovoltaic power plant project in Cochise County, Arizona, near the US-Mexico border. The project was originally scheduled for completion on January 1, 2026.
The sale of module and cell production equipment to Waaree Solar Americas and Babacomari North Solar, respectively, further reduces Meyer Burger's prospects of restoring domestic production capacity.
Photovoltaic technology manufacturer Meyer Burger Group announced it has abandoned plans to restructure as a whole, citing difficulties in securing a bailout from investors. The company has also sold machinery and equipment from its US factories.
This news virtually spells the end of Meyer Burger's last hope for US manufacturing.
The Swiss company sold nearly $29 million worth of factory equipment, including a 1.4 GW annual module factory in Goodyear, Arizona, and a now-abandoned 2 GW cell factory project in Colorado Springs, Colorado.
Meyer Burger halted production at its Arizona factories in May and laid off nearly 300 employees. In August 2024, the company officially terminated plans for the Colorado factory, which had been expected to employ over 350 workers.
The company announced that the asset sales totaled $29 million, with Waaree Solar Americas Inc. acquiring module production equipment and Babacomari Solar North LLC acquiring cell production equipment. However, the announcement did not disclose the specific transaction prices.
According to the online news platform USA Herald, Waaree bid $18.5 million in cash, while Babacomari bid $10.2 million in credit lines.
In April, India-based Waaree announced plans to double its module production capacity from 1.6 GW to 3.2 GW in Brookshire, Texas.
There is no clarity on the intended use of Babacomari's equipment, including its intended use and whether the company has any photovoltaic manufacturing experience. Contact information is also very limited.
Babacomari was the developer of record for a 160 MW photovoltaic power plant project in Cochise County, Arizona, near the US-Mexico border. The project was originally scheduled for completion on January 1, 2026.
