From http://www.tradingmarkets.com
Nov 26, 2007 (NORDIC BUSINESS REPORT via COMTEX) -- Solar Power, Inc. (SPI) has made arrangements with Motech, one of the world's top 10 producers of solar cells, for Motech to reserve 11 megawatts of 6" multi-crystalline photovoltaic (PV) cells.
The cells will be used for the production of SPI's solar modules at the company's factory in Shenzhen, China. In addition to the 11 megawatts for 2008, SPI and Motech are in discussions to develop a long-term cell supply agreement to meet the growing demand for SPI's PV modules.
"Our arrangement with Motech is significant, as they are the recognized world leader in the production of the highest quality mono and multi-crystalline PV cells," said Steve Kircher, CEO Solar Power, Inc. "Our companies share a common philosophy with respect to our mutual commitment to high-quality and product innovation. For these reasons we are also pursuing a long-term supply agreement."
To date, Motech has been a primary supplier of cells for SPI. The new arrangement provides SPI with an additional supply of high-quality cells to meet anticipated production requirements of the company's 200 watt panels during 2008. "We are happy to be providing Solar Power, Inc. with cells for their high-quality PV modules," said Dr. Simon Tsuo, CEO of Motech Solar. "For us this is further indication of the growing US market and demand for photovoltaic products as the adoption of solar energy in all market segments gains momentum across the United States."
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