French solar panel manufacturer Systovi announces the cessation of its activities

“The company is facing the sudden acceleration of Chinese dumping since the summer of 2023 and the regulatory discussions underway in France and Europe, in which it has participated for years, will not have an effect within a compatible time frame with its challenges", declared the company, based in Carquefou, near Nantes.

Created in 2008, Systovi has been looking for a buyer since March but has not received an offer. The company has 87 employees.

“This shows the importance of the solar pact that we have just signed,” reacted Daniel Bour, president of the professional union in the solar energy sector Enerplan.

The cessation of activity of Systovi comes as France launched at the beginning of April a "battle plan" to double the rate of deployment of solar energy capacities on its territory by 2030 and support the production of solar panels manufactured in Europe, facing the ultra-industrial domination of China.

“Making only modules from Chinese cells has always been a complicated situation, because the cell market is a very volatile market, depending on the needs of the Chinese themselves,” commented Mr. Bour, highlighting the arrival “very recent” Systovi in ​​the sector.

The government is counting on the commissioning of two solar panel factories in the country by 2025 to address the industrialization deficit in the photovoltaic sector, where France is seriously lagging behind.

France added 2023 GW of additional solar production capacity in 3,2, after an increase of 2,7 GW in 2022, a very slow progression in the face of the country's massive decarbonization needs, for a total of 19,3 GW.

However, in its energy roadmap published at the end of November, the government brought forward to 2035 (instead of 2050) the objective of achieving 100 GW of solar production.

The objective is to "produce in France by 2030 40% of the photovoltaic panels that we use", said the Minister of the Economy Bruno Le Maire at the beginning of April after a visit to a photovoltaic park in the south of France .

“We are very sad about this outcome and are now mobilizing all our energy to support as best as possible the women and men who have fought for 15 years to bring French solar into existence,” declared Paul Toulouse, Managing Director of Systovi .

The company achieved a turnover of 2023 million euros in 21,5.

The government deplored the failure of the search process for buyers initiated by the company, the office of the Minister of Industry Roland Lescure told AFP, assuring that the State "is closely monitoring the situation of employees and the future of Systovi's assets".