Press Release: State aid: Commission endorses €25 million aid to Sovello AG for String-Ribbon solar modules plant in Sachsen-Anhalt, Germany

The European Commission authorised, under EC Treaty state aid rules, €25 million of regional investment aid for the German company Sovello AG (formerly EverQ GmbH) for the production of String-Ribbon solar modules in Sachsen-Anhalt, Germany for a solar energy investment project. String-Ribbon technology involves running long wires through a silicon melt to achieve a long ribbon of silicon. The project involves investment of €115 million and is expected to create over 1000 new jobs in the region. After an in-depth investigation, opened in May 2008, the Commission concluded that the positive impact of the investment on regional development outweighs the potential distortions of competition.