Solar Thin Films, Inc. (OTC BB:SLTN.OB), a developer and maker of manufacturing equipment for the production of thin-film amorphous silicon and CIGS photovoltaic modules, has signed a memorandum of understanding (MOU) with China Singyes Holding Limited to build 100MW of module manufacturing capacity in China.
Under the MOU, Solar Thin Films 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.
"This proposed arrangement with China Singyes could be a significant step forward in our goal to become a leader in supplying cost-effective, thin film photovoltaic module manufacturing equipment," commented Peter Lewis CEO of Solar Thin Films.
Solar Thin Films expects to begin install the manufacturing equipment as early as 4Q08 and continuing through 2011. The initial production and sale of BIPV products could begin in 2009, Lewis said.
"This is a terrific opportunity for us 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," Lewis said. "Our rights to market BIPV output from the new facility outside of China would also open new customer channels and markets for us within the construction industry."
Solar Thin Films recently announced $12.3 million order from Grupo Unisolar, S.A to build a 5 megawatt (MW) solar module plant in Spain.
About Solar Thin Films
Solar Thin Films 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 subsidiary based in Budapest, Hungary. Personnel associated with the company have been responsible for the setup of nearly a dozen amorphous silicon photovoltaic factories worldwide. The company sells both "turnkey systems" to customers including CG Solar in China and Grupo Unisolar in Spain, and contracted equipment to customers including EPV Solar (Hamilton, NJ, USA).
Loading...