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Valoe, SoliTek yet to finalise Lithuanian PV manufacturing plan

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Valoe, SoliTek yet to finalise Lithuanian PV manufacturing plan


June 28 (Solar) – Finnish high-tech company Valoe Corp (HEL:VALOE) said Wednesday it has not yet concluded negotiations regarding a solar manufacturing partnership with Soli Tek Cells JSC (SoliTek) in Lithuania.

The company’s statement came in response to an article by Lithuanian newspaper Verslo Pulsas, which says the two companies plan to pour up to EUR 15 million (USD 17.4m) in an advanced photovoltaic (PV) cell and module factory in Lithuania. According to the report, the facility would have a capacity of about 100 MW for bi-facial cells and modules, with production starting early next year.

Valoe said the investments mentioned in the article are only estimations. It and SoliTek have not yet agreed how they would share the costs. Valoe stressed that it will commit to such an investment only after securing the needed financing.

The Finnish firm in April announced that it had bought a solar cell production line from Italian bifacial module maker MegaCell Srl, under liquidation, and agreed a cooperation with SoliTek. The latter is part of the BOD Group, which makes solar cells and modules at plants in Vilnius. Valoe explained that by integrating SoliTek’s cell production line and the MegaCell equipment the partners can build a high-technology production line for n-type interdigitated back contact (IBC) cells.


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