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EPV SOLAR Inc. signs 306 MW contract for sale of solar modules
EPV SOLAR, Inc. (formerly Energy Photovoltaics, Inc.), a thin-film solar module manufacturer and technology developer headquartered in New Jersey (USA) announced on December 18th 2007 that it has entered into a long term solar module supply agreement with unlimited energy GmbH (Berlin, Germany). Under the terms of the contract EPV SOLAR will supply 306 megawatts (MW) of amorphous silicon modules to unlimited energy for use in the development and build-out of several solar electric power parks in Europe. EPV will begin shipments based on this contract during the first quarter of 2008.
Products shall be initially shipped from EPV's New Jersey locations and shift to EPV's Senftenberg plant (Germany) scheduled to come on line during the fourth quarter of 2008. Dietmar Käsch, Managing Director of unlimited energy, commented: "We selected EPV SOLAR as our partner for these large installations due to the benefits of amorphous silicon technology, particularly its very competitive cost and excellent performance. We look forward to a long and prosperous relationship with EPV as we grow our energy business in Europe."
Nearly 400,000 metric tons of CO2 to be saved by solar modules
"We are proud to announce EPV SOLAR's first multi-hundred megawatt contract", stated Mr. Scott T. Massie, CEO of EPV SOLAR. "This contract, along with the substantial funding we closed in June and other imminent multi hundred megawatt deals, will enable EPV to command a leadership position in the high growth solar module market. We are extremely pleased to be working closely with unlimited energy GmbH to accelerate our growth in Europe", Massie added. "The environmental benefits of solar energy are critical to addressing the global warming challenge facing all of us. The electricity generated as a result of the deployment and use of the PV modules we will sell to unlimited energy will avoid the annual emission of nearly 400,000 metric tons of CO2 that would result if the electricity were generated by coal-fired power plants", Massie emphasizes.
EPV SOLAR announced $77.5 million of new financing in June, 2007, for the purpose of expanding its thin-film photovoltaic module manufacturing capacity. EPV plans to expand its annual module manufacturing capacity by approximately 85 MW in each of the next several years. Several countries and states in the USA are in negotiation with EPV to be the site for manufacturing capacity expansion. Founded in 1991, EPV develops its own manufacturing equipment for the production of high-performance, low-cost, amorphous-silicon thin-film photovoltaic modules and products. In November, EPV received the New Jersey Clean Energy Manufacturer of the Year Award for its leadership role in growing the market for clean energy technologies.