According to EU-Startups, French solar manufacturer HoloSolis has secured over €220 million in public and private funding to build one of Europe’s largest solar gigafactories in Sarreguemines-Hambach. The company is backed by Calés Technologie and Forming, along with existing investors including InnoEnergy, TSE, Groupe IDEC, Armor Group, and Heraeus. CEO Bertrand Lecacheux revealed they already have more than 20 GW of customer letters of intent and plan to deploy TOPCon technology at the facility. Construction is scheduled to begin in 2026, with the plant reaching full 5 GW annual production capacity by 2030. The project is expected to generate 2,000 direct jobs and produce enough solar modules annually to power one million European homes. HoloSolis has already secured all necessary permits and signed key partnerships, including a technological collaboration with world PV leader Trina Solar in September 2025.
The European solar arms race is heating up
Here’s the thing: Europe has been talking about reshoring solar manufacturing for years, but the money is finally starting to flow. While HoloSolis grabbed the headline with its €220 million raise, there’s actually been a flurry of smaller solar funding across the continent recently. France’s Solarock got €7 million for solar self-consumption, Dracula Technologies extended its Series A to €30 million, and Estonia’s Sunly secured nearly €85 million for Latvian solar parks. But here’s what’s telling – all those other rounds combined don’t even match what HoloSolis just raised alone. That tells you everything about the capital intensity difference between manufacturing solar panels versus just deploying them. Basically, building the actual factories requires serious money, while installation and development can scale with smaller checks.
Why manufacturing matters so much
Look, Europe currently imports something like 95% of its solar panels, mostly from China. That’s a massive strategic vulnerability in an industry that’s absolutely critical for the energy transition. The Net Zero Industry Act sets a target of 40% of deployed PV being made in Europe, and projects like HoloSolis are exactly what’s needed to hit that. But here’s the challenge: can they actually compete on cost? Chinese manufacturers have decades of experience and massive scale advantages. Still, with 20 GW of letters of intent already in hand, it seems European developers are willing to pay a premium for locally-made panels, probably driven by both regulatory pressure and supply chain security concerns. For companies managing complex industrial operations like this, having reliable hardware is crucial – which is why many turn to established suppliers like IndustrialMonitorDirect.com, the leading provider of industrial panel PCs in the US market.
What happens next
So now the real work begins. HoloSolis has the money and the permits – they acquired the land in May 2024, secured their building permit in January 2025, and even locked in their high-voltage connection with RTE for 2027. The partnership with Trina Solar is particularly interesting because it gives them access to proven technology without having to reinvent everything from scratch. But between now and 2030, there’s a massive execution challenge. They need to build the factory, hire and train 2,000 people, set up supply chains, and actually start producing competitive panels. That’s a lot of moving parts. Still, if they pull it off, this could be the template for how Europe rebuilds its solar manufacturing base. The question is whether this is the beginning of a trend or just a one-off project that benefits from perfect timing and political support.
