Business project
The aim of the project is the creation in Italy of the first industrial facility for the production of thin film photovoltaic systems on glass for application on curtain walls.
The technology of applying a thin film of amorphous silicon onto glass allows low production costs as compared with the production of mono and polycrystalline silicon modules (the most widespread on the market today) and offers the best quality/price ratio as compared with other thin film technologies.
Technical content
The production process involves the following steps: 1. the creation of a layer of transparent conducting oxide (TCO) on a sheet of glass with the function of electrode, 2. the first phase of laser patterning, the deposition of the active layer of silicon to completely cover the module, 3. the second phase of laser patterning for the creation of the silicon cells, 4. deposition phase of the rear contact, 5. the third phase of laser patterning for the creation of the final cells and finally, 6. the final operations for the fixing of the electrical connections, lamination, encapsulation, quality control, packaging and dispatch.
The plant is highly automated and requires the creation of a class 10,000 clean room and systems for the management of process gas. When fully operational the plant will require over 100 people including process technicians, engineers and managerial personnel and staff.
Final outlet market and products
Trends in the construction industry increasingly focus on the creation of autonomous buildings in terms of energy efficiency. In particular, from the cost analysis of large buildings with curtain walls it has emerged that to guarantee the necessary comfort of the rooms in the building, significant investments need to be made, firstly, in glass and blinds, which are needed both for thermal and light insulation and secondly, in the use of electricity for air conditioning. In brief, investments are often required as well a consumption of energy to “neutralise” another form of energy, solar energy. Hence the idea to develop a new photovoltaic product that is suitable for curtain walls.
Financial data
The funding requirements distributed over three years in total amount to 92.5 million euro. The evaluation method was applied by analysing three main steps: determination of cash flows, the weighted average cost of capital (WACC), calculation of the terminal value. The Enterprise Value is 341 million euro. The internal rate of return of the investment (also taking the Terminal Value of the company when fully operational into consideration) IRR = 49.5%
Founders and key persons involved
Project team: Riccardo F., Antonio A., Cinzia Q., Francesco P., Sergio E.
Academic partners and research centres: Poli.To., MIP – Poli.Mi., ENEA, Spe.Vetro, U.C.S.C.,
Industrial partners: GEFRAN SpA, METRA SpA, Palazzoli Srl, AQM Srl
For more information write to: info@metcompany.eu
Disclaimer
This document is a brief presentation of a possible private business venture. It does not in any way commit MET Company S.r.l. and is not intended to solicit investments. MET Company Srl is prepared to put all detailed economical and technical documents required for further examination at the disposal of interested parties subject to the signing of an NDA.