Solyndra in $ 238 million supply deal with German firm
In its update posted on its German website, USE announced this month that it will be making use of Solyndra’s cylindrical solar panels. Image sourced from STOCKXPERT The maker of a unique cylindrical solar module for commercial power systems said yesterday [July 7] that it has signed a new long-term sales contract with a German solar integrator for supplying up to $238 million of its unique solar product.
However, Solyndra, Inc., which announced the deal, did not provide further details about its contract with Holzgerlingen, Germany-based Umwelt-Sonne-Energie GmbH (USE).
The Euro-based contract, Solyndra said, extends through 2013 and brings its order backlog to over $2 billion. The solar panels for the contracts will be made at Solyndra’s facilities in Fremont and Milpitas, California, the company said.
USE designs, builds, and services large-scale turnkey PV systems for its customers in the Czech Republic, Belgium, Austria, and Croatia, aside from Germany.
In its update posted on its German website, USE announced this month that it will be making use of Solyndra’s cylindrical solar panels.
Solyndra’s cylindrical solar panels use copper-indium-gallium-selenium (CIGS) thin-film technology, which captures sunlight in a 360-degree photovoltaic (PV) surface capable of converting direct, diffuse, and reflected sunlight into electricity. Several of these long cylinders are placed side by side in a single frame.
Solyndra said the panel filled with cylindrical solar materials will generate more electricity compared with a typical low-slope commercial rooftop on a yearly basis at lower installation costs than conventional PV panels.
In May, Solyndra became the first company to receive a loan guarantee from the Department of Energy (DOE) worth $535 million. The loan is part of the DOE’s loan programs under the Energy Policy Act of 2005 for solar manufacturing expansion in the US.
The company currently has a fully-automated manufacturing complex in Fremont, where it is also based.
- Eric Dorente
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