OPIS Insights

Europe is facing a solar paradox. On one hand, demand for photovoltaic (PV) panels has never been higher. According to the latest IEA PVPS market report, published last April, the continent installed record volumes of new solar capacity in 2024, with 71.4 GW of new PV installations, led by Germany (16.7 GW) and Spain (7.5 GW). This makes PV the fastest-growing source of green power in Europe.

On the other hand, European manufacturing has shrunk to a fraction of global supply. Throughout 2024, this issue remained a key concern as competition with lower-priced imports from Asian manufacturers continued to push module prices to record lows. While some European governments have implemented active manufacturing policies, uneven political support in other countries has made it difficult to develop local PV manufacturing in an already inundated market.

The European Union has recognized this imbalance as a strategic vulnerability. Initiatives such as the Net-Zero Industry Act aim to address it by allowing EU countries to allocate parts of the PV market to local manufacturers through specific bonuses or selection criteria, in tenders and public procurement.

At the same time, the upcoming EU Clean Industrial Deal seeks to restore competitiveness by providing subsidies, streamlining permitting processes, and adjusting auction rules to favor EU-made technologies.

Yet, despite these efforts, Europe’s solar manufacturing base still faces intense pressure from low-cost imports, leaving investors wary about long-term viability.

Against this backdrop, a handful of companies are stepping forward to prove that large-scale PV manufacturing in Europe is not only possible but necessary. One of the most ambitious examples is being built in Bârlad, Romania, where Heliomit SRL is constructing a 1.5 GW solar panel factory with support from the country’s National Recovery and Resilience Plan (PNRR). This PNRR plan is linked to Europe’s Recovery and Resilience Facility and designed to assist EU Member States in their economic and energy transition efforts.

Heliomit’s 1.5 GW project, worth roughly €32.9 million ($38.7 million) in state aid, is set to become one of the largest of its kind in the EU.

To better understand the motivations behind this investment, and the role it could play in Europe’s clean energy ambitions, OPIS editor Benita Dreesen spoke with Tudor Mihăilă, founder of SC Heliomit SRL.

OPIS: What is the status of the factory?

Mihăilă: The factory should be up and running in June 2026. Production will be divided between TOPCon and HJT solar cell technologies because both are seen as the next wave of innovation.

Modules based on TOPCon (Tunnel Oxide Passivated Contact) cells typically reach efficiencies of 22-24%, compared to around 18-19% for conventional technologies. HJT (heterojunction technology) combines two types of silicon layers in one single cell, allowing them to capture more sunlight, perform better in hot weather and offer a longer lifespan than standard panels.

Our main market will be Europe, but we also plan to export a portion of our output to the United States.

We have already started construction, and all permits are in place. Everything is moving according to plan.

OPIS: Why build a panel factory in Europe, given the dominance of low-priced PV imports from Asia?

Mihăilă: I very much doubt that we can rely 100% on imported goods. No other segment in any industry relies fully on imports, and solar energy should not be an exception.

There is also a major policy shift on the horizon. Starting in 2026, the Clean Industrial Deal will introduce non-price criteria in renewable energy auctions. This means that panels manufactured in the EU will be favored in tenders, creating an incentive for local production.

Finally, we see export opportunities. Romanian production costs are relatively competitive, for example, our workforce is less expensive than in the U.S., which gives us a tariff advantage when exporting into the American market.

OPIS: Recent U.S. policies have created uncertainty for renewables. Do you still see the U.S. as an attractive export destination?

Mihăilă: Yes, definitely. While there is some negative sentiment in the market, the reality on the ground is different. The installation of renewable energy production sites in the U.S. is still growing strongly.

This growth sometimes contradicts market perception, but if you look at actual deployment numbers, the U.S. remains one of the most dynamic markets for solar. That makes it an important part of our export strategy.

OPIS: Do you believe Europe is doing enough to stimulate and support EU-made PV manufacturing?

Mihăilă: Subsidies are never enough. The support we’ve seen so far is a good start, but if Europe really wants to compete with China and India, it will take much more.

That said, I am optimistic. Beyond the PNRR, I believe the EU Innovation Fund will play a bigger role in the coming years. It is designed to support new technologies and industrial innovation, which is exactly what we are doing with our TOPCon and HJT lines.

With that additional support, Europe will be in a stronger position to build a sustainable PV manufacturing ecosystem.

OPIS: Looking ahead, how do you see Heliomit’s role in Europe’s solar future?

Mihăilă: Our goal is to be part of the re-industrialization of Europe’s solar sector. For too long, Europe has been dependent on imports for its energy transition. By building this factory in Romania, we are contributing to supply security, creating jobs locally, and showing that competitive solar manufacturing is possible within the EU.

At the same time, we are preparing for the next wave of technology. Both TOPCon and HJT offer high efficiency today, but our strategy is also about keeping the door open for future innovations.

For us, this means that we are looking at Perovskite and Tandem technologies (with higher efficiency rates of plus 30%), and at Bifacial technologies which capture light on both the front and back sides of the cells.

Europe needs to think long-term, and we want to help lead that change.