PVTIME – EDF Renewables recently announced that its subsidiary Photowatt, a French manufacturer of photovoltaic panels since 1979, will cease operations after failing to find a viable solution due to years of consecutive losses of between €20 million and €30 million per year.
Photowatt has been a pioneer in the solar industry for over 40 years. It currently employs 162 people who will be affected by the closure. EDF Renewables is trying to launch a process to find the best options for relocating the employees, which is expected to take about three months, while EDF is also trying to find a buyer for the Bourgoin-Jallieu plant, excluding the Photowatt-related activities.
Photowatt is credited with helping to make Europe a renewable energy manufacturing powerhouse, and was tasked with helping the EU meet its ambitious climate change targets. However, the company has gone through a series of crises and adjustments as market conditions have changed:
In September 2024, EDF Renewables enters into a preliminary agreement with the French start-up CARBON to sell Photowatt in order to contribute to the growth of the French PV industry. However, CARBON abandons the acquisition in November 2024 due to the negative attitude of Photowatt’s works council towards the plan.
In 2018, Photowatt shifts its business focus from PV module production to solar wafer production.
In 2012, Photowatt went bankrupt due to price pressure from other PV manufacturers, and was subsequently restructured and acquired by EDF Renewables. However, EDF also gradually stopped purchasing Photowatt modules and switched to more price-competitive manufacturers.
In 2009, Photowatt’s Bourgoin-Jallieu factory was closed for three weeks due to a drop in demand for photovoltaic modules and systems, affecting around 450 workers.
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