Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment, announced it has won a contract in China for a combined solar module and solar cell facility.
Spire will provide Jiangxi Gemei Sci-Tech LTD with a 25-megawatt (MW) module factory and an adjacent 25MW solar cell factory designed to produce multi-crystalline cells.
China is among the fastest growing countries for manufacturers of both solar cells and modules. In addition to the large export market, photovoltaic demand in China is expected to grow exponentially in the near future. The stated goal of the Chinese government is to have 450MW of photovoltaic power installed by 2010, up from approximately 75MW cumulatively installed in 2005.
Mr. Zheng Weixing, Chairman of Jiangxi Gemei Sci-Tech LTD, said, "We recognize the need to enter the rapidly growing solar market in China with a high volume, vertically integrated manufacturing solution. It is critical to enter this dynamic market quickly and effectively. We are extremely pleased to select Spire as our long-term partner."
Jiangxi Gemei Sci-Tech expects that its vertically integrated solar facility will form the cornerstone of a new science and technology-manufacturing center in Jiangxi, a southern province in China. This area is currently home to a number of other solar energy manufacturers.
About Spire Corporation
Spire Corporation is a global solar company providing turnkey production lines and capital equipment to manufacture photovoltaic modules. Spire Semiconductor provides processing technology for Spire’s silicon solar cell manufacturing lines and produces and sells custom gallium arsenide cells for solar concentrator systems. Spire Biomedical utilizes processing equipment common to solar cell manufacturing and is a leader in hemodialysis catheters and implantable device processing services.
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