HoloSolis gets state aid for French solar gigafactory project

French startup HoloSolis will receive EUR 3 million (USD 3.3m) in grant funding from France’s Grand Est region for a project to build a 5-GW factory for photovoltaic (PV) cells and panels.

The financing aid was approved during a recent meeting of the regional council’s Permanent Commission, according to an official statement.

Set up in 2022, HoloSolis intends to open a EUR-700-million (USD 755m) factory with the capacity to produce 10 million solar panels annually. The production base will be located in the town of Hambach, Grand Est region, and will employ about 1,700 people. It will commence initial production in 2025 and reach full capacity two years later.

The manufacturing site, to be the largest one of its kind in the northeastern French region, will supply the domestic market and export to other European countries, as well.

HoloSolis is expected to launch onsite construction in the second quarter of this year. Late last year, French coating solutions provider Armor Group and Germany’s Heraeus Holding GmbH invested in the French PV producer, providing it with cash for its flagship project.

(EUR 1.0 = USD 1.085)

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