French solar product manufacturer Carbon has announced a draft agreement to acquire domestic competitor Photowatt, aiming to bolster its ambitions of becoming a gigawatt-scale producer of photovoltaic (PV) cells, wafers, and modules.
The acquisition proposal is linked to a EUR 40 million (USD 4.7 million) investment plan for Photowatt, with Carbon committing to retain the workforce at the Bourgoin-Jallieu manufacturing site and to expand the team to 200 employees by 2026.
Photowatt, currently owned by EDF Renewables, operates a factory specializing in the production of ingots, wafers, and modules in Bourgoin-Jallieu, located in the Auvergne-Rhône-Alpes region. Carbon's strategy includes integrating Photowatt into its initiative to establish a 500-MW PV module factory, expected to begin operations by the end of 2025.
This facility will serve as the initial phase of a more extensive plan for a PV gigafactory in Fos-sur-Mer, in the Bouches-du-Rhône department of southern France.
The acquisition has received backing from EDF Renewables, which plans to support Carbon's initiative by contracting for PV panels. “EDF Renewables believes that CARBON's proposed acquisition of Photowatt would give new momentum to the company, secure its operations, and safeguard jobs at the site,” stated Bruno Fyot, Deputy CEO of EDF Renewables.
This strategic move by Carbon not only aims to enhance its production capabilities but also reflects the growing importance of domestic solar manufacturing in the context of Europe's energy transition and the increasing demand for renewable energy solutions.
