REC Group and Meyer Burger Inks MoU for Strategic Cooperation

Based on the cutting-edge technology equipment by Meyer Burger, REC’s Alpha module accomplished groundbreaking efficiencies. As the world’s most powerful 60-cell solar panel, the pronouncement of Alpha was met by instant interest and demand by the market and is projected to be a game-changer in the industry

August 16, 2019. By News Bureau

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The REC Group has announced that it has contracted a memorandum of understanding (MoU) for a strategic cooperation with Meyer Burger.

As a front running innovator leading the pack in solar technology, REC Group is eyeing to further leverage on the already prevailing collaboration.

Based on the cutting-edge technology equipment by Meyer Burger, REC’s Alpha module accomplished groundbreaking efficiencies. As the world’s most powerful 60-cell solar panel, the pronouncement of Alpha was met by instant interest and demand by the market and is projected to be a game-changer in the industry.

“As the leading premium and integrated non-Chinese solar panel manufacturer, and with its reputation for operational excellence, REC is the ideal partner to continue the commercialization of Meyer Burger’s high-efficiency PV technologies,” believed Hans Brändle, CEO of Meyer Burger.

REC plans to now increase its 600 MW heterojunction technology (HJT) and SmartWire Connection Technology (SWCT) production capacity for Alpha, using equipment from Meyer Burger, to multiple GW in cooperation with a potential strategic partner.

REC is keenly studying prospective partners for the expansion. In exchange for ample exclusivity protection for specific HJT and SWCT technology, REC is in principle prepared to enter into a profit-sharing agreement with Meyer Burger. The terms for this are to be agreed upon by the companies and their respective Boards. Building on the leading expertise that Meyer Burger brings to the table, REC is confident that this intense collaboration will create significant long-term company value for both parties and will reshape the market.

REC Group’s CEO Steve O’Neil held that “together with Meyer Burger, REC developed the industry’s flagship panel, the Alpha. We are confident that strengthening our partnership with Meyer Burger will further drive innovation and higher efficiencies, the only way to strongly empower consumers with clean and affordable solar energy and accelerate energy autonomy of communities worldwide.”

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