Swiss solar panel maker Meyer Burger Technology AG is seeking a capital increase for expansion into the US market after closing one of Europe’s largest solar factories due to competition from cheap Chinese products. The company aims to achieve break-even in its US business after full ramp-up of facilities, but is currently facing losses almost double of analyst expectations. To fund its US endeavors, Meyer Burger plans to raise around 250 million Swiss francs through a rights issue, with its largest shareholder Sentis Capital and client D.E. Shaw Renewable Investments participating. CEO Gunter Erfurt expressed confidence in raising external capital, citing existing offtake contracts through 2030 in America. Despite rumors of a potential deal involving Meyer Burger’s closed German factory, CEO confirmed that the plant is not for sale and may be dismantled and rebuilt in the US instead.

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