The decision has been approved by the company board, said aleo in a statement released. The factory in Spain has a production capacity of around 20 megawatts.
The site closure, said the company, will have no impact on its projected sales and revenues. However, the 92 workers will be let go. The company will "immediately" go to the council in order to negotiate a social plan for the employees, continued the statement.
It added, "Against a backdrop of global overcapacity and an ongoing price war in the photovoltaic market, the utilization of the capacity of 280 megawatts in Prenzlau [Germany] is a prime corporate goal."