Systovi’s Tragic End: A Cautionary Tale for the Future of the European Photovoltaic Sector

Paul Toulouse, director of Systovi, one of the last two French producers of photovoltaic panels, is feeling overwhelming sadness after fifteen years of working to build a sustainable photovoltaic sector and ensure the energy transition. Despite giving himself one month to find a buyer, no one showed up, and the Commercial Court of Nantes declared the liquidation of the company on Wednesday, April 17. The extreme competition from Chinese photovoltaic panels, which are currently sold four times cheaper than French panels, made it difficult for potential buyers to make offers.

Despite around fifty contacts in the sector, none resulted in a viable offer. European MP Christophe Clergeau describes Systovi as a company with profitable technologies 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 closure of Systovi comes at a time when the French government is aiming to double solar energy production capacities in the country. Despite this objective, the disappearance of Systovi’s manufacturing facility underscores