As the last remaining French producer of photovoltaic panels, Paul Toulouse, the director of Systovi, is feeling overwhelmed by sadness after fifteen years of working to build a sustainable photovoltaic sector. Despite giving himself one month to find a buyer, no one showed up, and on Wednesday, April 17th, the Commercial Court of Nantes declared the liquidation of the company. The intense competition from Chinese photovoltaic panels, which are currently sold at four times cheaper than French panels, made it difficult for potential buyers to make offers.
Despite having around fifty contacts in the sector, Paul Toulouse regrets that none resulted in a viable offer. European MP Christophe Clergeau describes Systovi as a profitable company that has fallen victim to economic attacks from China. He criticizes the passivity of French and continental authorities in protecting European companies from such attacks.
With 87 employees, two-thirds of whom voted for the company’s liquidation, Systovi’s employees are now faced with turning the page after investing in production facilities and being let down by market conditions. Despite voting for liquidation, many employees express disappointment and bitterness at the lack of support from politicians and authorities. The sudden closure of Systovi’s operations highlights the challenges in creating a viable French or European photovoltaic sector.
The disappearance of Systovi’s manufacturing facility comes at a time when France is aiming to double solar energy production capacities in the country. This objective underscores the challenges facing France and Europe in establishing a competitive sector against intense international competition.
Paul Toulouse feels frustrated by his failure to find a buyer for Systovi within one month despite having around fifty contacts in the industry. He believes that regulatory perspective and protection tools for French or European industries would have helped prevent Chinese products from dominating the market.
The closure of Systovi’s manufacturing facility also highlights how difficult it is for small companies to compete with larger corporations like those coming from China.
The sudden closure has left many employees feeling betrayed by both their former employer and political leaders who failed to protect their jobs.
As Europe looks towards renewable energy sources like solar power to reduce its carbon footprint, this setback could be detrimental to achieving its objectives if not addressed quickly.
Overall, this incident serves as a reminder that global markets can be unpredictable and challenging even for established companies with strong track records like Systovi.