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Photowatt, one of the few European solar manufacturers that offered solar wafers,cells and modules has been shut down after parent firm EDF Renewables decided to switch off further support for the struggling maker. EDF had acquired Photowatt in 2012. The closure comes at a time when solar manufacturing in Europe is pretty much unviable in the face of lower priced Chinese imports, with only some niche categories like thin film solar cells surviving.
EDF Renewables had apparently come close to a deal last year with Carbon, another French solar manufacturing startup, to hive of Photowatt to it, but the deal did not work out. With no respite from the low prices that have wrecked manufacturer's balance sheets over the past two years, EDF was clearly unwilling to lose the €20-30 million per year on Photowatt anymore.
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Photowatt was founded in 1979 as a spin-off from Dutch conglomerate Philips with an initial focus on researching solar cells. Over time, the firm expanded to start manufacturing cells, wafers and modules, with a capacity of 200 MW, a number not as uncommon as it seems today. Built at a time when Europe and the US actually led in solar innovation and development, with most offering integrated offerings. The firm was one among many that have faced a wipe out post the Chinese dominance of the sector after 2007.
Even looking beyond China, many other countries in Asia will offer a very tough challenge to European producers currently, from Vietnam, to India and more. The Carbon Border Mechanism (CBAM) that is seen as one non-tariff opportunity for protection to European manufacturers was probably considered a measure too far (it takes full effect only post 2026) by EDF to wait for, considering the other uncertainties around competitiveness of European manufacturing and future demand in the continent.
