Solar technology developer Day4 Energy Inc. (TSX:DFE) is making moves in Eastern Europe after announcing a new 25 megawatt (MW) production line in Slovenia on Thursday morning.
The Burnaby-based company has signed a technology licensing agreement with Solvenia’s second largest photovoltaic solar technology manufacturer Enersis.
The deal allows Day4 to sell its technology into Slovenia.
George Rubin, Day4’s president said: “This is a clear example of how Day4's turnkey manufacturing technology solution provides the ability to scale the volume of business, and increase market share in emerging markets."
The company expects to garner €3 million from consulting fees and initial construction of its products in Slovenia, and then earn an annual revenue stream of €1.2 million.
The move is yet another signal of Day4’s ongoing interest in the European solar market.
Rubin recently told BIV that Europe has a better understanding of renewable energy technologies than Canada (see “Euromarket options up for locals”, BIV 1073, May 18-24).
Earlier this month, Day4 said it would expand its European manufacturing capacity to 120 megawatts from 50 megawatts by the end of June. In April, the company announced plans to buy German photovoltaic manufacturer ACI-ecotec GmbH & Co. KG in an all-stock deal.