Slovenia's BISOL Group to Install Solar Power Plants at “Innovative” Locations
Date: April 8th 2021
Author: Valerija Hozjan
The Slovenian solar panel manufacturer BISOL Group plans to generate at least EUR 5 million of its own investments in Slovenia and elsewhere in Europe by the end of the decade and is already in talks to install solar power plants at several innovative locations, such as brownfields, reservoirs, and highway embankments, the company told Energetika.NET.
“We do not have the consolidated results for the group at this time, however, according to our estimates, the revenue should exceed EUR 42 million and the profit should be over EUR 3 million,” the group told Energetika.NET, commenting on last year’s business results.
This year, we plan to further accelerate our growth, “especially in terms of increasing market shares in key markets, positioning ourselves in emerging markets (on Europe’s periphery, as well as in new global markets), and further moving our sales portfolio in the direction of the most challenging products”.
In Slovenia, the company would like to see a “more strategic attitude of the state towards all renewable sources, not only solar.
Meanwhile, in some other European countries, the situation is better”. However, according to BISOL, even the European Union does not have the right attitude in terms of European PV, despite the strategically well-devised targets for renewables, “as it allows for many unfair business practices by Asian, especially Chinese producers – one of the most notable, but not the only one, being dumping”.
In addition to environmental considerations, another important reason for expanding production outside Slovenia is the gradual emergence of the Balkan markets where “local production could help set up dominant market positions”, BISOL told Energetika.NET when discussing further expansions.
Additionally, the company has “very ambitious targets” in the field of PV mounting solutions. It recently presented a new generation of such solutions, developed as a result of long-term cooperation with the University of Ljubljana and University of Maribor.
“Expanding production to North Macedonia was a serious plan which, due to various reasons, remains unrealised – at least for now. However, our ambition to expand abroad has not waned. More than being about looking for competitiveness in terms of lowering labour costs, which are not a decisive factor in our industry, it is about a certain willingness of the environment to embark on such investments, which we are seeing throughout South East Europe,” said the BISOL Group.
No less than EUR 5 million of its own investments in Slovenia and elsewhere in Europe
Each year, the company allocates approximately EUR 2 million to new features in production. In the last two months, it has “made an even greater step forward – when introducing the most recent solar cell technology (the M6 dimension half-cut cells), we modernised more than half of all the machines in production and almost fully automated the production process”.
By doing this, they were able to boost annual production capacity to 700 MW. The new BISOL Duplex module can reach an output power of up to 455 Wp and is already available, noted the company.
Meanwhile, BISOL recently announced that it plans to re-launch its own investments in solar. This decision was based on three basic motivations, “one of which is definitely the economics, as such investments are achieving an intriguing level of profitability, while we also want to diversify our business and additionally enhance our brand visibility”.
The company aims to generate no less than EUR 5 million of its own investments in Slovenia and elsewhere in Europe before the end of the decade. In this regard, it is already in talks to install solar power plants at some innovative locations, such as brownfields, reservoirs (for hydro power plants), and highway embankments.
This article is available also in Slovene.