Case Study: 20 MW Basic Production – Caucasus Region 

March 19, 2023

By  Andreas Lange

Project Description

The customer wanted to build a 20 MW basic production in the Caucasus area.

The idea was to produce mostly (60%) OEM panels under the name of a business partner.

The main sales area of the business partner is in USA, the main product is a mono perc standard panel with 60 cell design and 315 watt.

Because the 20 Mw are only the start and there will be an extension in the future – the customer decided for a rented building with the following dimensions:
– 700 sqm factory hall
– 80 sqm office
– 200 sqm stock

Only the preparations for power supply and other facility requirements have to be done – no other investments in land or building.

The production line should produce in 2 shifts in the first 2 years and after switching to a 3 shift model.
Production is 23 hours a day and 340 days / year.

Investment & Capital Requirement

Construction CAPEX and Production Start

Investment & Capital Requirement

Investment & Capital Requirement

The company was founded with §300,000 equity and additional §300,000 share capital. Equity / debts: 62% / 38%

Sales Markets World Wide

Distribution of Sales

Sales Markets World Wide Map

The Product

The product scheme

Operating Profit Per Watt

Breakdown costs and profit per Watt in Second Year (2020)

Operating Profit Per Watt Chart



diagram1The first year with installation and ramp up had a loss of $91,000. A little bit more than 1 year with 2 shift production was enough to get the return on invest. Profit for 2021 is 1,5 million Dollar.

Head count timetable

Shift one consists of 8 people, full production for 20 MW is 23 people. In 2019 the factory started with 21 people, plan is to extend to 30 people until 2022.

Cash Flow by Year

Cash Flow timetable


Planed cash flow until 2023.

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