The agreement allows for Kozarska-Dubica-based production of mono and policrystalline silicon ingots and wafers for photovoltaic cells. 

The new production plant will be built in 2016, and with an investment of €12.5 million, it aims to have 120 MW annual capacity. 

“We aim to start the production of mono and policrystalline silicon ingots and wafers by the end of 2016 in order to provide the raw materials for cells and modules production. This is the first step towards the creation of a world photovoltaic hub”, Franco Traverso said. 

The production will be mainly allocated to MegaCell, which produces high-efficiency bifacial solar cells and modules in Padua, and also to the Joint Ventures plants that the Group has been establishing abroad for the production of bifacial cells and modules and innovative bifacial solar systems. 

The later phase of the project foresees a further production capacity increase and establishment of other PV Value Chain parts, with an overall investment of €35 million allowing the creation of one of the largest European photovoltaic plant.

MegaGroup chose the Bosnian industrial site, already equipped with infrastructure due to its favorable conditions for energy-intensive production, such as ingots and wafers one. As a matter of fact, the new plant will benefit from energy costs among the lowest in the world, high-skilled and low-cost workforce and the support from the Government. Besides, the plant will be powered with green hydroelectric energy.

Traverso said, “Our target is forming a network of partner companies who will benefit from production and commercial internal synergies and could be strongly competitive on a global level. Self-production of the PV raw materials in Bosnia is a key element of a strategic planning that aims to make high-performance PV energy even more competitive with the fossil fuels energy”.