Colexon Energy AG (HRP.DE), a
developer of thin film PV power plants, and Masdar PV GmbH, a producer of thin-film modules, have entered a long-term strategic
partnership.
The agreement runs until 2013 and covers a total volume of
more than 150 megawatts (MW) solar modules. The modules are fabricated with thin film silicon-based technology.
Colexon
is the first company to sign such an agreement with Masdar PV. Financial terms of the deal were not disclosed.
Masdar PV is a 100% subsidiary of the Abu Dhabi Future Energy
Company. In line with the Masdar-Initiative, the company will invest
approx. US$600 million in the foundation of two factories. The
first production site will start with operations in 3Q09
in Erfurt, Germany. The second factory will go on line in 2Q10. Together both production sites will initially reach a total
production capacity of 210 MW per year.
Colexon has a close relationship with Masdar since the foundation of the
Masdar Initiative. Dr. Rainer Gegenwart, CEO of Masdar PV GmbH, is the
former head of the department VP Technology of Colexon and is one of the
leading experts in thin film technology.
Colexon recently announced plans to merge with the Danish Renewagy
A/S.
Dr. Rainer Gegenwart, CEO of Masdar PV, said "As project developer of large thin film
PV power plants Colexon has already acquired a leading market position in
Germany and abroad. We are convinced, that the recently announced merger
with Renewagy A/S, a well established operater of PV power plants, will
additionally strengthen Colexon’s international market presence."
The Colexon group designs and installs turnkey photovoltaic plants for institutional
and private investors in Germany and abroad. Colexon is specialized in the
realization of return optimized and large scale photovoltaic projects.Colexon Energy AG is listed in the Prime Standard at the German Stock
Exchange in Frankfurt.
Masdar PV GmbH aims to become a top-3 global
thin-film PV company by 2013, starting with 210 MWp of production at plants
in Germany and Abu Dhabi, UAE. Masdar PV GmbH is a subsidiary of Abu
Dhabi Future Energy Company (ADFEC), and is part of the Masdar Initiative,
Abu Dhabi’s multi-faceted, multi-billion dollar investment in the
development and commercialization of innovative technologies in renewable
energy and sustainability. ADFEC is owned by the government of Abu
Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi
announced it will invest US$15 billion in Masdar.
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