DayStar Technologies, Inc. (Nasdaq: DSTI), a developer of photovoltaic products based on CIGS thin film semiconductor technology, announced it has signed a letter of intent (LOI) with Juwi Solar GmbH.
Juwi will work closely with DayStar in the early stages of production to test and evaluate the company’s copper indium gallium diselenide (CIGS) thin-film modules in field installations, according to a release.
Juwi also will assist with third party qualifications required for financing large utility power plants with the CIGS modules, which are unique in that they contain no silicon.
The LOI will conclude when the two companies enter into a definitive sales agreement that would commit Juwi to procure up to 25% of DayStar’s production through 2011.
The Juwi group is a leading company in the renewable energy sector in Europe. By the end of 2007, Juwi had developed more than 600 photovoltaic power plants with a total capacity of approximately 80 (megawatts) MW. In 2008 Juwi projects installing an additional 120 MW and is currently constructing a 40 MW power plant near Brandis, Germany, which when complete will be the world’s largest grid-tied PV system, the company said.
"Engaging DayStar at this important stage of their commercialization is critical to ensuring our well designed and cost-effective system solutions," said Lars Falck, managing director of Juwi solar. "We believe DayStar’s CIGS modules can offer us a competitive cost and performance advantage in meeting our aggressive growth plans for the future."
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is engaged in the development, manufacturing, and marketing of photovoltaic products based upon CIGS thin film semiconductor technology.
About juwi solar GmbH
The Juwi Group ranks among Germany’s leading renewable energy companies with a focus on wind, photovoltaic, and biomass projects. Juwi Group is involved in all facets of renewable energy project realization, from project origination through installation and operation of projects. The company has developed a variety of multi-megawatt PV-projects on open land and building rooftops and is currently building the world’s largest PV power plant, at 40 MW. For more information about juwi Group, visit http://www.juwi.de.
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