Saturday, May 31, 2008

Solar Thin Films Partners with China Singyes Holding

May 30, 2008

Solar Thin Films has signed a deal with China Singyes Holding to build out 100MW of module manufacturing capacity in China, the company said.

Solar Thin Films is a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon and CIGS photovoltaic modules. As per the deal, the company will supply equipment, technology and general engineering and design support, and retain certain rights outside of China to market and distribute building integrated photovoltaic (BIPV) products.

Solar Thin Films intends to install cost-effective thin-film photovoltaic manufacturing equipment through 2011. While equipment installation is expected to commence in the fourth quarter of 2008, the initial production and sale of BIPV products could begin in 2009.

Peter Lewis, chief executive officer of Solar Thin Films, said the proposed arrangement with China Singyes could be a significant step forward in their goal to become a leader in supplying cost-effective, thin film photovoltaic module manufacturing equipment.

Lewis added that combined with their recently announced $12.3 million order from Grupo Unisolar, to build a 5MW turn-key a-SI Module plant in Spain, it clearly shows the progress they are making. He finds this to be a terrific opportunity for them 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.

Solar Thin Films’ rights to market BIPV output from the new facility outside of China would also open new customer channels and markets for them within the construction industry.

Both the companies are currently minority shareholders and board members of CG Solar, a "thin-film" module manufacturing company located in Weihai, China, that utilizes equipment produced by Solar Thin Films.

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