Bosch 'in $177m SolarWorld payoff'

German automotive giant Robert Bosch will pay SolarWorld up to €130m ($177m) to assume ownership of its PV manufacturing facilities and keep most of the staff employed there on its books, according to a report.

Last November SolarWorld confirmed plans to buy Bosch’s solar factories in Arnstadt, eastern Germany, comprising 700MW of cell and 200MW of module capacity.

SolarWorld did not disclose the terms of the deal at the time, but said that the plant transfer would not reduce its own financial resources.

But Bosch’s willingness to pay SolarWorld to take its factories and workers off its hands adds a new wrinkle to the drama. The story was first reported by the Wall Street Journal.

The €130m figure would reportedly be reduced should the PV industry rebound Log in to read complete article.

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