MCPV Secures €4.2M to Develop 4-GW Solar Cell Gigafactory in the Netherlands

Dutch solar technology firm MCPV has secured EUR 4.2 million (USD 4.59 million) in financing to push forward its 4-GW solar cell factory project in Veendam, the Netherlands. The funding comes through agreements with the Ministry of Economic Affairs, the province of Groningen, and the Regional Development Agency NOM.

With these financing deals in place, MCPV is set to begin the development of the facility, which is expected to be operational by 2026. The gigafactory, designed with a low-carbon footprint, is projected to create over 600 full-time jobs and significantly increase solar cell production capacity in Europe.

MCPV has already acquired the industrial site and secured the necessary grid capacity to support both initial operations and potential future expansions.

The company aims to produce competitive, made-in-Europe solar cells and modules, contributing to Europe’s energy security and opening up new export opportunities for the Netherlands and the wider European market.

This project is part of the SolarNL programme, a Dutch public-private initiative aimed at advancing solar industrial projects across the country. SolarNL, which received EUR 412 million in 2023, has allocated a substantial portion of that funding to MCPV's gigafactory project.