Module manufacturer asola will resume production in Germany next week following the successful takeover and restructuring program instigated by its new Chinese owners, STGCON.
Having experienced a difficult year, the Erfurt-based company was purchased by STGCON, who will now form a consortium with American TellusPower and asola called TUSAI Holding.
"The current solar market has swung into a solid volume level, and we want to benefit from the increasing market demand for asola products," said asola general manager, Helmut Teschner.
Having initially toyed with the idea of shifting the plants manufacturing capabilities to Croatia, the decision to resume production in Germany has been well received by the company, with an estimated 10 new production jobs per shift thought to be in the offing, according to an asola press release.
The company also announced that it will evolve from producing purely PV modules to become a supplier of complete PV systems and battery storage solutions. Production of all three types of component are expected to begin immediately.
asola thanked STGCONs investment, adding: "Our new shareholder has contrived asola in the last few months to a solid financial level, and strongly subsidized the technological development of solar systems."
This news reflects a wider upturn in the fortunes of other European manufacturers, with SolarWorld last month acquiring Boschs manufacturing facilities in a deal that secured 800 jobs and the ongoing annual production capacity of 1 GW of solar cells and modules.