Bosch to Continue Restructuring Its Solar Energy Business

published: 2014-03-13 14:21 | editor: | category: News

Bosch Solar Energy, an energy subsidiary of Bosch, announced that it has consummated all necessary purchasing processes and sold its cell and module production in Arnstadt to SolarWorld. Besides, Bosch is also negotiating to sell its module plant in Vénissieux, France to “reach an advanced state.”

Bosch has entered the final phases of existing the solar industry after its massive losses in 2013. Last year, Bosch’s solar business lost€1.3 billion and they sold Aleo this February to a Taiwanese PV manufacturer by only €2 to restructure the solar operation. The sale of Bosch Solar Energy to SolarWorld started in November 2013 and has been completed before the first quarter of 2014, with a €130 million payment.

According to the contractual conditions, 1,000 of the currently 1,400 jobs at the Arnstadt location have been preserved after SolarWorld’s acquisition. In addition to the roughly 800 associates who are transferring to SolarWorld, Bosch promises to employ a total of roughly 250 associates at the Arnstadt location.

“We have achieved our goal of selling parts of the operation and relocating an alternative Bosch business, and in this way of offering jobs to as many associates as possible,” said Dr. Volkmar Denner, Chairman of the Board of Management of Robert Bosch GmbH.

By acquiring Bosch Solar Energy, SolarWorld has become the largest PV cell (700MW) producer in Europe. It is also noted that SolarWorld will migrated its passivated emitter rear contact (PERC) technology into this new facility and will start producing high-efficiency PV modules to increase power generation by around 20%. However, SolarWorld hasn’t yet provided and timeframes.

For the module plant in Vénissieux, France, Bosch is planned to offer a comparable solution to the one for Arnstadt. Talks with a potential investor have now reached an advanced stage, said in Bosch’s press release.

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