Carbon secures €2 million for solar gigafactory, launches crowdfunding

Carbon has obtained €2 million ($2.1 million) from 11 independent power producers (IPPs) and two consulting firms to support its new gigafactory project in France. The French solar module maker is also launching a crowdfunding campaign to raise at least €1 million.

From pv magazine France

French solar module manufacturer Carbon has secured €2 million from 11 IPPs and two consulting firms.

These investors – including CVE Group, IEL, Irisolaris, Langa International, Provence Eco Energie, Sépale, Silversun, Synapsun, Technique Solaire, Tenergie, Terre et Lac, and Wewise – collectively represent nearly 4 GW of operational projects and 1.3 GW of planned projects for 2025.

“Their mobilization reflects a strong signal from the industry and marks a decisive step in building a strong and sovereign European solar industry,” said Carbon.

The startup will also launch a crowdfunding campaign on the Enerfip platform on April 2. The two-week campaign aims to raise €1 million, with a potential to reach €2.5 million. Open to residents across France, the campaign sets a minimum investment of €10.

“This is the first time that an industrial project of this magnitude has opened its capital to the general public. This citizen financing therefore reflects a real push for renewable energy and a demand from the population to actively participate in the country's reindustrialization,” Carbon Managing Director Nicolas Chandellier told pv magazine France.

The bond issuance by Terre & Lac Industrie (TELI) will help fund the creation of Carbon One, a 500 MW assembly plant. Following the failed acquisition of Photowatt, Carbon is expected to announce the location of the plant in June 2025, likely near Marseille-Fos. The facility, set to begin operations in June 2026, will serve as a launch pad for the gigafactory, which aims to reach 3.5 GW in annual production by 2027-28, including 5 GW of cells.

The total investment for the project is expected to be €1.7 billion, with 50% financed by debt, 25% by national and European subsidies, and the remaining portion by equity.