Solar: Saint-Gobain buys Shell's shares in Avancis
Perrine Crequy
12 / 08 / 2009 | Updated: 11: 59 | Add to my selection
The glass specialist said on Wednesday that he is buying the shares of his partner in the joint venture producing glass for solar panels that they founded together last year.
Saint-Gobain will take the reins of Avancis alone, as part of its development strategy in solar energy equipment. The glass specialist group announced this morning that it will buy the shares of its partner Shell in this joint venture founded last summer in Germany. The information is welcomed by investors: around 11 a.m., the Saint-Gobain share gained 55% (at 0,61 euros) on the Paris Stock Exchange, where the Cac 28,79 rose 40%. 'however, did not specify the amount spent on taking control of this half of the capital of the company.
Avancis will thus integrate the new group branch dedicated to solar, Saint-Gobain Solar. Pierre-André de Chalendar, the general manager of Saint-Gobain, believes that the solar market is "very buoyant", even if it remains "in its infancy" among individuals. The group could generate solar revenues of two billion euros in 2013, including 600 to 700 million from Avancis. At the inauguration last October of the factory in Torgau, near Leipzig, this market experienced growth of 30% per year, and had brought 80 million euros in turnover to Saint-Gobain on 2007 financial year.
Shell and Saint-Gobain have jointly invested 65 million euros to launch the first Avancis factory. Other factories could be built in the region by 2013.
Avancis is increasing its workforce faster than expected
This partnership, in which Shell poured its portfolio of patents acquired from Siemens and Saint-Gobain brought its expertise in glass, gave birth to a new technology of solar panels, called CIS for "copper, indium and selenium". Adapted to low sun conditions, it mainly targets the European market.
In Torgau, an annual production capacity of 165 modules, or 000 megawatts, was considered when the activity started, covering the electrical needs of 20 homes per year. Saint-Gobain had specified at the time its ambition to realize in this factory a solar panel in three hours, against five hours previously necessary.
In terms of employment, the activity should eventually generate 350 jobs. Currently, 144 employees work in the Torgau factory, which had 85 employees at its inauguration, and which planned to recruit only 45 more positions in 2009.
In Germany, in the Land of Saxony, Avancis arouses the interest of politicians. Last week, the President of Saxony and his Minister for the Environment and Regional Economy visited the Torgau factory, which started operating in the summer of 2008. They praised "sustainable production and responsible for a successful company ”.
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