Midsummer Secures €58.5 Million Solar Partnership with Italian Firm PugliAsfalti

Midsummer, a solar enterprise located in Sweden, has entered into a five-year, multi-million euro partnership with PugliAsfalti, an Italian roofing firm.

Under the terms of the agreement, PugliAsfalti will acquire up to 6.5 MW of thin-film CIGS modules from Midsummer, investing €11.7 million annually, which culminates in a total investment of €58.5 million over the duration of the contract. These CIGS panels are intended to be distributed to both current and future clients, primarily throughout southern Italy.

PugliAsfalti has been a prominent player in the roofing industry since 1953, excelling in medium-sized roof installations primarily in Italy’s southern regions. Recently, the company has successfully ventured into the environmentally-conscious building sector, focusing on integrating photovoltaic systems seamlessly into roofing structures. This niche has flourished in Italy, buoyed by the country’s 110% “eco bonus,” which incentivizes property owners to adopt solar energy installations.

This established company presents an ideal platform to introduce our cutting-edge solar roofing solutions. It marks the third similar strategic pact aimed at ensuring market penetration for products from our newly inaugurated Bari factory. Currently, we have prearranged commitments accounting for 15 MW of the facility’s 50 MW annual production capacity, stated Midsummer’s CEO, Sven Lindström.

The contract also stipulates that Midsummer will procure up to 30,000 square meters of TPO (thermoplastic polyolefin) roofing membranes from PugliAsfalti annually, agreeing on a rate of €100 per square meter. The purchase volume remains flexible for both parties, with provisions in place for price adjustments contingent upon specific conditions.

Midsummer’s collaboration with PugliAsfalti is the third such agreement forged with Italian roofing businesses within the last quarter. In a preceding arrangement, Unimetal, a roofing and building materials supplier based in Turin, committed to purchasing 25 MW of thin-film CIGS modules from Midsummer, with the transaction approximate to €45 million. Additionally, in December, Medacciai, a producer specializing in bespoke curved metal roofs, consented to procure 17.5 MW of solar modules from Midsummer over five years, totaling €31.5 million.

Anticipation is also growing for Midsummer’s upcoming grand-scale factory in Bari, designed to produce thin-film CIGS solar cells. Set to commence operations by late 2022, this facility is poised to establish Midsummer as the leading manufacturer of thin-film solar cells across Europe.