Ersol wins Solar Semiconductor as new customer with € 126 million supply contract
• Cells worth approx. € 126 million to be supplied over a period of 10 years
• Focus on the US and Indian solar markets
Long Beach, USA, 27 September 2007.
Source Ersol Solar Energy AG / press release
http://www.ersol.de/uploads/media/PR_ersol_27092007_01.pdf
From 2008, ersol Solar Energy AG (ersol) will deliver multi- and monocrystalline silicon solar cells to module producer Solar Semiconductor Pvt. Ltd., based in India and the US . To this end, at the US Photovoltaic Solar Power Conference and Expo both companies yesterday afternoon
Californian time (PST) signed a long-term supply agreement that will run until 2017.
Ersol is due to receive down payments from Solar Semiconductor, which will later be credited to the international module producer against the purchase of solar cells in the form of a price reduction. Solar Semiconductor will incorporate the modules produced with ersol solar cells in projects for the US and Indian markets.
“The US and Indian photovoltaic markets offer substantial growth potential. Thanks to deliveries of our solar cells to Solar Semiconductor, our products will now be used even more extensively in the photovoltaic systems in the up-and-coming US market. Besides that, the Indian solar market is extremely attractive to us,” said ersol’s Chief Executive Officer Dr. Claus Beneking after the contract signing. Hari Surapaneni, CEO of Solar Semiconductor, is convinced of the quality of ersol high-performance
cells: “ersol is known as a pioneer in the manufacture of monocrystalline 3 busbar cells. We are delighted to be able to offer our customers highly efficient solar modules.”
About Solar Semiconductor
The internationally orientated module producer with offices in California/USA and India was founded in 2005. Solar Semiconductor Pvt. Ltd. provides innovative quality products and services for the global photovoltaic market. The company’s high degree of production automation and extensive technology plan are geared to the needs of its current and future customers.
About ersol
ersol Solar Energy AG produces and markets high-quality silicon-based photovoltaic products. The Group comprises the divisions Silicon, Wafers, Solar Cells and Modules. With sales of € 128 million in financial year 2006, the Thuringia-based company is one of the leading companies in the solar industry. Listed since 30 September 2005 on the Prime Standard of the Frankfurt Stock Exchange, the young ersol share had already been added to the TecDAX on 19 December 2005. Currently the ersol Group has more
than 680 employees.
The Company’s main goal is to establish itself even more strongly as a manufacturer of high quality silicon solar cells and to account for a disproportionate slice of the anticipated growth in the photovoltaic industry. To achieve this, ersol currently focuses on technologically demanding stages of the value chain for photovoltaic plants, and in particular on the production of wafers and solar cells. There are a number of pillars to the Company’s supply of the raw material it needs, silicon. It is primarily secured by longterm delivery agreements with leading polysilicon manufacturers. In addition to this, the Company’s internal recycling capacities in the silicon area also make an important contribution. Silicon is processed in the Wafers area. The monocrystalline wafers manufactured there are preliminary products for the manufacturing of highly-efficient silicon solar cells in the Solar Cells division. Since early 2006 the Company has been delivering a part of its solar cells for the production of solar modules to the joint
venture Shanghai Electric Solar Energy Co. Ltd. (SESE) in which the ersol Group has a 35% holding. The sales of these and other photovoltaic modules are handled in part by the Modules business segment. In the future, this segment is expected to include the Company’s own module production, planned for 2009. ersol also develops silicon-saving thin-film technology in the Modules segment. A production facility for thin-film silicon modules is being built for this.