Ersol Solar Energy AG (ES6.DE) signed a major contract with Bad Staffelstein-based system integrator, IBC Solar AG for the supply of crystalline silicon solar cells. Starting this year, the cells will be supplied over a period of 10 years. The contract is worth more than EUR half a billion, the companies said.
Ersol is scheduled to receive downpayments from IBC SOLAR AG, which will later be credited to the German PV provider when the solar cells are purchased, in the form of a purchase price reduction. IBC SOLAR joined the ranks of ersol’s major clients last summer. In June 2007 both solar companies concluded a contract to the value of roughly EUR 230 million, scheduled to run for several years.
This latest contract saw ersol increase its total order book value for solar cells to almost EUR 4 billion.
IBC SOLAR AG intends to use the modules to meet demand from its established customers in Germany and also to expand its international business.
"This new cell contract with ersol will help us to secure the long-term growth of our company. The photovoltaic modules equipped with ersol solar cells will also help us expand our international business," says Udo Möhrstedt, CEO of IBC SOLAR, on signing the contract.
About Ersol
Ersol Solar Energy AG produces and markets silicon-based photovoltaic products. The group comprises the segments Silicon, Wafers, Solar Cells and Modules. With sales of €160 million in financial year 2007, the Thuringia-based company is a leading players in the solar industry. The ersol Group currently has 1,000 employees.
About IBC Solar
IBC Solar was founded in 1982 and since then has been active exclusively in the photovoltaics sector. The IBC Solar group and its subsidiaries in Europe and Asia provide markets worldwide with high performance photovoltaic systems of all sizes, from house roofs to major solar projects. To date, IBC Solar has installed more than 350 Megawatts (MW) of photovoltaic power at more than 50,000 solar energy facilities around the world.
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