Solyndra Inks $115M Contract
FREMONT, Calif., May 27, 2009 – Solyndra Inc., maker of proprietary photovoltaic (PV) systems for commercial rooftops, has signed a new long-term sales contract with solar integrator EBITSCHenergietechnik, based in Zapfendorf, Germany.
The Euro-based contract, worth up to $115 million, extends through 2013 and brings Solyndra's contractual backlog to approximately $1.8 billion, according to the company.
The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, Calif.
Solyndra says it's cylindrical, thin-film PV systems are designed to generate more electricity on an annual basis from typical low-slope commercial rooftops, while uniquely providing much lower installation costs than conventional PV flat panel technologies.
"The photovoltaics market is fast moving, so it is important to keep your eyes open for new products. Solyndra’s solution dramatically changes the model for installation of PV systems, expanding the market by addressing large numbers of industrial rooftops which are not economically viable with other PV technologies. We’re confident that we have taken a smart step into a sunny future with Solyndra," said Horst Ebitsch, founder and managing director of EBITSCHenergietechnik.
"We are very pleased to announce this relationship with EBITSCHenergietechnik, a true pioneer in the field of renewable energy with more than 20 years installation experience. Together with Solyndra’s innovative PV systems, EBITSCHenergietechnik’s strong presence in Germany and elsewhere in Europe should lead to world-class photovoltaic installations in the fastest growing markets for commercial scale solar," said Dr. Kelly Truman, Solyndra’s VP of marketing, sales and business development.
For more information, visit: www.solyndra.com
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