Paul Toulouse, the director of Systovi, a French photovoltaic panel producer, is facing overwhelming sadness after fifteen years of working to build a sustainable solar energy sector. Despite putting in one month’s notice and reaching out to over fifty contacts in the industry, no buyer showed up, and the Commercial Court of Nantes declared liquidation on April 17th.
Despite Systovi’s profitable technologies and strong team, the company ultimately fell victim to economic attacks from China. The lack of regulatory perspective and protection tools for European industries has made it difficult for French or European companies to compete with Chinese products that are currently sold four times cheaper than their counterparts. European MP Christophe Clergeau criticized the passivity of French and continental authorities in protecting local businesses from such attacks.
With eighty-seven employees, two-thirds of whom voted for liquidation, Systovi’s employees are now left to turn the page after investing in production facilities and being let down by market conditions. Despite voting for liquidation, many employees expressed 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.
This closure comes at a time when France is aiming to double its solar energy production capacities in the country. The disappearance of Systovi’s manufacturing facility underscores the need for stronger regulatory frameworks that protect local businesses from unfair competition from international markets.
:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/USQRAVBPFBD4PLYURKSMCHLVSA.jpg)
