(AFP / PHILIPPE DESMAZES)
The plan to take over Photowatt, one of the last French manufacturers of photovoltaic panels, was finally abandoned, the French company Carbon, the only declared candidate for the takeover of this subsidiary of EDF Renewables, announced to AFP on Thursday.
“Following several months of discussions around the proposed sale of Photowatt and consultations with employee representative bodies, Carbon and EDF Renouvelables announce that they will not finalize the planned transaction,” Carbon said in a statement. transmitted to AFP, information confirmed by EDF Renewables.
Carbon once again assured Thursday that it had “built a coherent and solid site takeover and activity development project with the confidence of EDF Renewables”.
“However, it is with regret that we note today that the conditions necessary for the success of this project could not be met,” Carbon said, without giving further explanations.
Photowatt's CSE issued a negative opinion last week regarding this project, according to a union source. Many employees had expressed their concern about this operation since the announcement, believing that the development plan was “not very credible”.
Photowatt has long suffered from Chinese competition. EDF Renewables took over the company, in receivership, in 2012. The company gradually closed workshops to concentrate on the silicon wafers at the base of solar panel cells.
The Photowatt takeover project provided for an investment plan of 40 million euros with the creation of a production unit for commissioning “before the end of 2025”, according to EDF Renewables and Carbon, which aimed to become an integrated player in the production of photovoltaic panels, with the construction of a gigafactory in Fos-sur-mer.
The draft agreement between the current owner and the takeover candidate provided for the maintenance of 170 jobs for 24 months, according to Carbon. Carbon even announced that it was aiming to increase the workforce to 200 jobs “by 2026”. But the unions believed that there were no guarantees on this plan.
Despite the abandonment of the takeover of Photowatt, Carbon assures that it wants more than ever to continue its industrial project.
