Sunways AG enters into prepayment contract for solar cell shipments with SOLARWATT AG
Press release from Sunways AG, 30 June 2008
http://www.sunways.de/en/press/pm_overview.php?we_objectID=2106
Sunways AG, Constance, will supply SOLARWATT AG, Dresden, with solar cells from 2009 onwards. The prepayment contract has a five-year term and relates to a total volume of 155 to 160 megawatts of mono- and multicrystalline solar cells. The quarterly delivery volumes to SOLARWATT will gradually increase each year in line with the expected expansion of Sunways AG’s production capacities. Initially, SOLARWATT will receive a maximum of 20 megawatts of solar cells next year, including an option for five megawatts; in 2013, the delivery volume will be 50 megawatts. The prepayment amount will not be disclosed.
Roland Burkhardt, chairman of the Management Board of Sunways AG, said: “The contract entered into with our long-standing close cooperation partner will ensure the sale of a portion of our markedly increased cell production capacities from 2009 onwards.” Currently, Sunways is expanding the production capacity of its solar cell plant in Arnstadt from 30 to 100 megawatts. By year-end 2008, the company will thus have a total capacity of 116 megawatts at the Arnstadt and Constance locations.
CFO Michael Wilhelm also expressed his satisfaction with the newly concluded contract: “The multi-year contract with SOLARWATT gives us additional planning security but leaves us sufficient maneuvering room to advance our own system business in a targeted manner. As from 2009, we will have access to a sufficient amount of raw materials at significantly better purchase prices as well as the corresponding production capacities to satisfy the continuously rising domestic and international demand for our high-quality components in an economically viable manner.”