Belga Solar secures €3 million capital increase from Wallonie Entreprendre and private investors to accelerate TOPCon solar panel production

Belga Solar, formerly Evocells, secured a €3 million ($3.51 million) capital increase from public institution Wallonie Entreprendre and private investors to accelerate its transition to tunnel oxide passivated contact (TOPCon) solar panel production at its 100 MW facility in Baillonville, central Wallonia. The financing supports the company's shift from PERC to TOPCon technology, enabling production of 425-490 Wc panels for residential, commercial, and industrial markets. Managing directors Frédéric Conrads and Sébastien Mahieu emphasized the strategic importance of European PV sovereignty, noting the acquisition of EcoProgetti equipment to align with local manufacturing goals. The facility produces specialty modules including agrivoltaic panels, building-integrated photovoltaics, and patented Wattway road-surfacing technology developed with Colas and France's National Institute of Solar Energy (INES). Belga Solar also manufactures SkySafe anti-glare panels for airport environments, with Brussels International Airport as an early adopter.

Counterparts (4)

managing_director

S

Sébastien Mahieu

company · 1 deals

F

Frédéric Conrads

company · 1 deals

Lender

Wallonie Entreprendre

company · 1 deals

Walloon regional development agency providing financing, guarantees, and venture capital to support sustainable growth and job creation in Wallonia, Belgium, with a focus on transitioning to a circular and energy-efficient economy.

borrower

Belga Solar

company · 1 deals

Belgian manufacturer of high-efficiency solar PV panels, batteries, and EV charging solutions, with 100% local production in Wallonia and a 25-year product guarantee. B Corp-certified company offering turnkey solar installations for residential and commercial customers in Belgium.