After fifteen years of dedicated work in building a sustainable photovoltaic sector and ensuring the energy transition, the director of Systovi company, Paul Toulouse, is feeling overwhelmingly sad. Despite his efforts to find a buyer in the last month, no one came forward, leading to the Commercial Court of Nantes declaring the liquidation of the company on Wednesday, April 17.
Toulouse expressed regret that despite contacting around fifty players in the sector, none made an offer due to the extreme competition from Chinese photovoltaic panels sold at significantly lower prices. The lack of regulatory perspective and protection tools for French or European industries has also contributed to the difficulties faced by companies like Systovi.
European MP Christophe Clergeau called for urgent action to protect remaining companies in the face of what he described as a Chinese economic attack on the photovoltaic sector in Europe. The 87 employees of Systovi have had to come to terms with the company’s closure, with two-thirds of them voting in favor of liquidation rather than seeking a one-month reprieve in hopes of finding a buyer.
Despite Systovi’s potentially profitable technologies and recent investments in production facilities, the company fell victim to market forces and competition from Chinese manufacturers. This sudden closure comes at a time when France is striving to increase its solar energy production capacity and reduce dependence on imports.
The closure of Systovi’s factory in Carquefou underscores the challenges faced in establishing a sustainable French or European photovoltaic sector. The employees, disappointed and disheartened, reflect on what could have been done differently to save the company. As France moves forward with its solar energy objectives, the closure of Systovi serves as a stark reminder of the realities of the industry and the need for robust protection measures for domestic producers.