NEW YORK, NY, Dec 02, 2008 (MARKET WIRE via COMTEX) -- TGI Solar Power Group Inc. (PINKSHEETS: TSPG), a turnkey supplier of vertically integrated solar systems for a variety of applications ranging from Solar Parks (solar to grid) to commercial markets, today announced it has formed a joint venture with Hong Kong-based Oriental Energy Group Ltd. (OEG) to target China's renewable energy market, under the name SOLAR POWER CHINA CORPORATION LTD.
"TGI and OEG have signed a memorandum of understanding (MOU) that outlines plans for cooperation and takes advantage of the first to market position. JV is looking to get 8 to 10 cities started simultaneously," said Ying Wang, Managing Director of the newly created joint venture. "We are in process of signing LOI for project financing with the following local governments: Shenzhen, Sanya, Liuzhou, Zhanjiang, Wenzhou, Foshan, Dongguan, Tulufan, Leting and Nanning."
The agreement also includes plans to include two manufacturing facilities of 40 MW of thin film panels utilizing Solar Thin Films, Inc. (SLTN), a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon photovoltaic modules, TGI's affiliated company.
"We are excited to be working with Oriental Energy. This project will pave the way for solar installations throughout China," said Billy Lieberman, President of TGI Solar.
About TGI SOLAR
TGI Solar (TSPG) is a provider of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry. The Company's products and solutions are used for production of solar grade polysilicon, manufacturing of multi-crystalline silicon wafers, production of solar cells and assembly of complete modules. The firm provides facility and process design and integration know-how with its equipment. The Company offers its products and services to PV product manufacturers on a worldwide basis and a substantial percentage of its sales are to customers outside the United States.
Showing posts with label Solar Thin Films. Show all posts
Showing posts with label Solar Thin Films. Show all posts
Wednesday, December 3, 2008
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.
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.
Friday, April 4, 2008
Solar Thin Films, Inc. Acquires Equity Interest in CG Solar of China
April 03, 2008: 03:47 PM EST
Solar Thin Films, Inc. (OTCBB: SLTN) today announced that it has acquired a 15% equity interest in China-based CG Solar (previously Weihai BlueStar Photovoltaic Co. Ltd.) in exchange for $1,500,000. As noted in Solar Thin Film's 8-K filing on 2/25/08, the acquisition was completed through two separate transactions.
On January 31, 2007, Solar Thin Films, Inc. (the "Company") entered into an Assignment and Assumption Agreement of Joint Venture Contract with Renewable Energy Solutions, Inc. ("RESI"), pursuant to which the Company agreed to transfer the sum of $500,000 on behalf of RESI to CG Solar in exchange for a 5% equity interest in CG Solar.
On January 31, 2007, the Company entered into an Agreement for the Plan and Sale of Equity Interest with Terra Solar, pursuant to which the Company agreed to transfer the sum of $1,000,000 to Terra Solar in exchange for the acquisition of a 10% equity interest in CG Solar.
The completion of both transactions has received all requisite approvals, including approval by the board of directors of China Solar Energy Holdings Limited, the parent company of Terra Solar.
The transactions, and acquisition of 15% of CG Solar, are consistent with the Company's strategy to take an equity interest, and purchase or marketing rights, in the operations of "turnkey" module manufacturing customers. Earlier the Company announced that it had entered into a marketing agreement with CG Solar providing certain rights to market their modules in North America and Europe.
About Solar Thin Films
Solar Thin Films (www.solarthinfilms.com) develops, manufactures and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon and CIGS photovoltaic ("PV") modules, together with a wholly owned subsidiary based in Budapest, Hungary. Personnel associated with the company have been responsible for the setup of 14 thin-film photovoltaic factories worldwide. The Company sells equipment and turnkey systems to customers including EPV Solar (Hamilton, NJ, USA) and CG Solar (Weihai, China). Management believes that its line of cost-effective thin-film photovoltaic manufacturing equipment positions the Company to take advantage of the rapidly growing demand for solar modules and an expected market shift towards "thin film" PV modules as part of a cost effective, "clean technology" energy solution.
About CG Solar
CG Solar (previously Weihai BlueStar Photovoltaic Co. Ltd.) is an amorphous silicon module manufacturing company based in Weihai, China. The company produces both standard amorphous silicon modules and building integrated modules for sale in China and for export internationally. The company's shareholders include Blue Star Glass Company -- a Chinese glass manufacturer, China Xingyes -- a Chinese curtain wall company, and Solar Thin Films.
Solar Thin Films, Inc. (OTCBB: SLTN) today announced that it has acquired a 15% equity interest in China-based CG Solar (previously Weihai BlueStar Photovoltaic Co. Ltd.) in exchange for $1,500,000. As noted in Solar Thin Film's 8-K filing on 2/25/08, the acquisition was completed through two separate transactions.
On January 31, 2007, Solar Thin Films, Inc. (the "Company") entered into an Assignment and Assumption Agreement of Joint Venture Contract with Renewable Energy Solutions, Inc. ("RESI"), pursuant to which the Company agreed to transfer the sum of $500,000 on behalf of RESI to CG Solar in exchange for a 5% equity interest in CG Solar.
On January 31, 2007, the Company entered into an Agreement for the Plan and Sale of Equity Interest with Terra Solar, pursuant to which the Company agreed to transfer the sum of $1,000,000 to Terra Solar in exchange for the acquisition of a 10% equity interest in CG Solar.
The completion of both transactions has received all requisite approvals, including approval by the board of directors of China Solar Energy Holdings Limited, the parent company of Terra Solar.
The transactions, and acquisition of 15% of CG Solar, are consistent with the Company's strategy to take an equity interest, and purchase or marketing rights, in the operations of "turnkey" module manufacturing customers. Earlier the Company announced that it had entered into a marketing agreement with CG Solar providing certain rights to market their modules in North America and Europe.
About Solar Thin Films
Solar Thin Films (www.solarthinfilms.com) develops, manufactures and markets a complete line of manufacturing equipment for the production of "thin-film" amorphous silicon and CIGS photovoltaic ("PV") modules, together with a wholly owned subsidiary based in Budapest, Hungary. Personnel associated with the company have been responsible for the setup of 14 thin-film photovoltaic factories worldwide. The Company sells equipment and turnkey systems to customers including EPV Solar (Hamilton, NJ, USA) and CG Solar (Weihai, China). Management believes that its line of cost-effective thin-film photovoltaic manufacturing equipment positions the Company to take advantage of the rapidly growing demand for solar modules and an expected market shift towards "thin film" PV modules as part of a cost effective, "clean technology" energy solution.
About CG Solar
CG Solar (previously Weihai BlueStar Photovoltaic Co. Ltd.) is an amorphous silicon module manufacturing company based in Weihai, China. The company produces both standard amorphous silicon modules and building integrated modules for sale in China and for export internationally. The company's shareholders include Blue Star Glass Company -- a Chinese glass manufacturer, China Xingyes -- a Chinese curtain wall company, and Solar Thin Films.
Subscribe to:
Posts (Atom)
