Holosolis Secures €220 Million to Launch Europe’s Largest 5 GW Solar Module Gigafactory

French solar PV module manufacturer Holosolis has secured EUR 220 million (USD 255.2 million) in public and private funding to build one of Europe’s largest solar gigafactories in Sarreguemines-Hambach, eastern France. 

The latest round of funding comes from French industrial firm Calés Technologie and Swiss cold forming company Forming, joining a strong consortium of existing investors including the Armor Group, Groupe IDEC, Heraeus, InnoEnergy, and TSE.​

The EUR 220 million will be used to finalise the factory’s design, support recruitment, set up the supply chain, and install advanced tunnel oxide passivated contact (TOPCon) manufacturing equipment. The facility is expected to commence commercial operations by 2030, with construction scheduled to begin next year.​

Building Europe’s Largest Solar Gigafactory

Once fully operational, the Holosolis plant will have a production capacity of 5 GW per year, making it the largest TOPCon cell and module gigafactory in Europe. The facility is projected to produce enough solar modules annually to power one million European households.​

Holosolis CEO Bertrand Lecacheux expressed optimism about the project’s progress, stating, “I am very proud that new partners are joining us! We will be able to benefit from their expertise to build the largest TOPCon cell and module gigafactory in Europe.” He also highlighted strong market interest, noting that the company has secured more than 20 GW of customer letters of intent.​

Strengthening European Energy Sovereignty

The advancement of Holosolis’ factory is a positive development for European solar as a whole, which has seen a wave of policy support for new manufacturing facilities this year. Initiatives such as the International Solar Manufacturing Initiative (ISMI) and the EU’s Net Zero Industry Act (NZIA) aim to accelerate demand for European-made solar products and ensure that 40 percent of PV systems deployed in Europe are also manufactured in Europe.​

Eric Lauer, Strategic Development Manager at Forming AG, added that supporting the reindustrialisation of France is at the heart of Forming AG’s ambitions.​

Risks Remain For Long Term Viability 

However, a solar manufacturing plant with a relatively distant 2030 timeline could be subject to actual existential risks in terms of both price, technology and market readiness. While it is no secret that manufacturing costs in Europe are much higher despite higher productivity, TOPCon technology could be on its way out by the time 2030 rolls around. Holosolis will also probably need continuous subsidies or state protection to survive vis a vis import threats from China or even India by then. THe best hope, of CBAM type measures that impose costs on foreign firms might fall short, as many other manufactirers miught ave done enough to qualify for lower duties by then.