Meyer Burger Technology, the Swiss manufacturer of solar cells and solar modules, is scraping plans to build a producing plant in the United States.
Back in 2023, Meyer Burger announced plans for a solar cell factory with 2 gigawatts (GW) capacity in Colorado Springs, Colorado. At the time, the company said the plant would start production in 2024.
Now, Meyer Burger has decided that the project is not “financially viable,” with the profitability coming at a lower level than previously anticipated.
“Meyer Burger Technology AG announced today that the planned construction of a solar cell production facility in Colorado Springs, Colorado, USA, is no longer financially viable for the company due to recent developments and that the project will therefore be discontinued,” Meyer Burger said in a statement.
The “recent developments” mentioned by Meyer Burger are largely tied to its dire financial situation. The company announced a plan to perform a significant restructuring of its business while also employing a number of cost-cutting moves.
Meyer Burger will still keep its presence in the United States through its solar module production plant in Goodyear, Arizona. However, the previously announced plans to expand the Goodyear factory’s capacity by 0.7 GW have been put on hold.