Oxford Photovoltaics (Oxford PV) - Page 5

Oxford PV's Professor Henry Snaith recently stated that the Company's perovskite-based solar cells are scheduled to go on sale next year.

Professor Snaith said: "Perovskite PV has demonstrated its immense opportunity to transform solar energy generation... I am especially looking forward to the next 12 months and seeing our first commercial perovskite-silicon solar product on the market."

Oxford PV recently stated that it hopes to deliver perovskite-silicon tandem solar cells to high end solar module manufacturers in the first half of 2021, now less than a year away.

The group expects these solar cells to have an efficiency between 26-27%, to increase in efficiency by 1% per year as the company improves its manufacturing techniques. It was said that initially, a 400 watt 60-cell solar module will probably be available.

After ordering a 100 MW HJT production line from Meyer Burger in August 2019, Oxford PV has placed another partial order to expand the HJT line to an integrated 125 MW production line for high-efficiency perovskite HJT tandem cells.

The Swiss solar PV equipment manufacturer Meyer Burger Technology has received this partial order, worth CHF 18 million ($18.2 million).

After forming a strategic partnership in March 2019 between Meyer Burger and Oxford Photovoltaics, Meyer Burger has announced that it has received its first order from Oxford Photovoltaics (Oxford PV), for a heterojunction (HJT) manufacturing line including necessary adaptions enabling the upgrade to perovskite-on-HJT tandem technology.

The order for the upgrade itself will reportedly follow later this year. The current contract volume is about CHF 20 million and provides Oxford PV with an initial manufacturing capacity of 100 MW with plans to expand tandem solar cell production capacity to 250 MW by the end of 2020.

Oxford PV recently announced it has closed its Series D funding round. An additional £34 million, following the £31 million first close, brings the funding round total to £65 million.

The first close, announced in March 2019, included a significant new investment from Goldwind, the leading provider of integrated renewable energy solutions in China, as well as investment from existing shareholders including Equinor and Legal & General Capital. The additional funds include the major new investment from Meyer Burger, the leading photovoltaic equipment supplier, announced in March 2019, with the remaining investment coming from other new and existing investors.