Dutch solar technology company MCPV has secured a total of EUR 4.2 million (USD 4.59 million) in financing to advance its 4-GW solar cell factory project in Veendam, the Netherlands.
The financing agreements involve the Ministry of Economic Affairs, the province of Groningen, and the Regional Development Agency NOM.
With this funding, MCPV is set to begin implementing the facility, which is expected to be operational by 2026. The planned low-carbon footprint gigafactory is projected to create over 600 full-time jobs and significantly enhance solar cell production capacity in Europe.
MCPV has already acquired the industrial site for the project and secured the necessary grid capacity for initial operations and future expansions.
The company aims to produce competitive, made-in-Europe solar cells and modules, contributing to energy security and creating export opportunities for both the Netherlands and Europe.
The development of MCPV’s facility is part of SolarNL, a Dutch public-private programme focused on advancing solar industrial projects in the Netherlands. SolarNL received EUR 412 million in funding in 2023, with a significant portion directed toward MCPV’s initiative.
