German silver metallization paste maker Heraeus has acquired an unspecified stake in French PV module manufacturer HoloSolis.

In 2025, HoloSolis plans to open a PV cell and panel factory in Hambach, France. At full capacity from 2027, the factory is expected to employ 1,700 people and produce 10 million modules per year, for a total capacity of 5 GW per year.

“Heraeus, with its cutting-edge metallization technologies, is a very valuable asset for our global leadership,” said HoloSolis President Jan Jacob Boom-Wichers.

In fiscal 2022, Heraeus achieved sales of €29.1 billion ($31.1 billion) with around 17,200 employees in 40 countries.

“Heraeus will also play an active role within the board of directors, providing its advice, experience and expertise,” said Christian Neumann, a tech specialist for Heraeus.

Germany’s Fraunhofer Institute for Solar Energy (ISE) recently said that it will support HoloSolis in setting up its planned manufacturing facility.

Three European entities – EIT Innoenergy, French IDEC Group, and TSE – founded HoloSolis. EIT Innoenergy is an EU-financed clean-tech investor based in Eindhoven, the Netherlands. IDEC Group is a real estate developer in France, while TSE is a key producer of solar energy in France and a leader in agrivoltaics.

HoloSolis stands as a flagship initiative under the European Solar PV Industry Alliance (ESIA), which aims to establish 30 GW of annual European production capacity by 2025.