Clean technology companies are emerging from a slew of alternative energy entities scrambling to produce the next alternative power source. Since the production of the first solar cell technology in 1839, solar modules have evolved into a highly-demanded energy solution. Thin-film photovoltaic (PV) manufacturing equipment is gaining popularity in the clean technology sector because of its low cost, advancing features.
Solar Thin Films Inc. (OTCBB: SLTN) develops, manufactures and markets manufacturing equipment used to produce “thin-film” amorphous silicon and CIGS PV modules. Today the company announced its intentions to build 100 megawatts of module manufacturing capacity in China; the company has signed a memorandum of understanding (MOU) with China Singyes Holding Limited to reach its manufacturing and supply objectives.
According to the terms of the agreement, Solar Thin Films will supply equipment, technology and general engineering and design support, and retain certain rights outside of China to assist in the marketing and distribution of integrated photovoltaic (BIPV) products. Solar Thin Films expects to commence manufacturing the equipment in the fourth quarter of this year, and expects to continue installation through 2011, though the initial production and sale of BIPV products could begin in 2009.
“This proposed arrangement with China Singyes could be a significant step forward in our goal to become a leader in supplying cost-effective, thin film photovoltaic module manufacturing equipment,” Peter Lewis, CEO of Solar Thin Films, stated in the press release. “Combined with our recently announced $12.3 million order from Grupo Unisolar, S.A to build a 5MW turn-key a-SI Module plant in Spain, it clearly shows the progress we are making.
“This is a terrific opportunity for us as China Singyes is one of the country’s largest curtain wall engineering companies, with numerous projects inside and outside China, and a demonstrated commitment to expand an already existing presence in the solar field,” Lewis stated. “Our rights to market BIPV output from the new facility outside of China would also open new customer channels and markets for us within the construction industry.”
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