Armor Group acquires 20% stake in Holosolis, announces work on tandem-perovskite cells on silicon

France-based Armor Group has acquired a 20% stake in French solar module maker HoloSolis

In 2025, HoloSolis plans to open a TOPCon PV cell and panel factory in France. At full capacity from 2027, the factory is expected to employ 1,700 people and produce 10 million modules per year, for a total capacity of 5 GW per year. HoloSolis is also working on the next generation of solar panels and the perovskite-silicon tandem cells.


“After the construction of our new factory for battery components near Nantes, HoloSolis' project is an additional building block of our action in the service of restoring our energy sovereignty and generating non-relocatable jobs, two principles that we have defended for many years,” said Hubert de Boisredon, chairman and CEO of Armor Group.

A week ago, Armor Group sold Asca GmbH’s organic solar panel manufacturing facilities in Kitzingen, Germany, to Hering Group for an unspecified sum. According to an Armor Group press release from June 2023, Acsa GmbH was a “largely loss-making” business.

“After having focused our efforts for several years on organic photovoltaics (OPV), which has proven to be a very promising but still immature technology, we have decided to direct our efforts towards new tandem-perovskite cells on silicon,” said De Boisredon.

Last week, German silver metallization paste maker Heraeus also acquired an unspecified stake in HoloSolis.

Germany’s Fraunhofer Institute for Solar Energy (ISE) recently said that it will support HoloSolis in setting up a planned manufacturing facility.

HoloSolis was founded by three European entities: EIT Innoenergy, a clean-tech investor based in Eindhoven, the Netherlands and financed by the EU; IDEC Group, a real estate developer in France; and TSE, a prominent solar energy producer in France and a leader in agrivoltaics.

Posted: Nov 17,2023 by Roni Peleg