Solar joint venture to target 30 MW capacity
by Gina Roos, Green SupplyLine. Irvine, CA, 15 Sept 2008
source: EETimes.com
http://www.eetimes.com/news/latest/showArticle.jhtml?articleID=210601719
Quantum Fuel Systems Technologies Worldwide, Inc. has announced that its German solar photovoltaic partner, Asola Advanced and Automotive Solar Systems GmbH will establish a joint venture (JV) manufacturing plant in South Korea with Q&Tech/Yongsan, a high-volume manufacturer of electronic and automotive components in Korea. Under the Memorandum of Understanding, Asola will build a 30 megawatt (MW) solar production facility to manufacture and distribute German-designed solar modules in South Korea. Initial capacity is set at 30 MW, consisting or mono- and poly-crystalline silicon solar modules, with projected revenues in excess of $100 million annually.
The manufacturing facility in Korea will use equipment, processes and quality controls that are identical to Asola’s state-of-the-art 45 MW facility in Germany. The modules will be designed in Germany, and silicon solar cells are expected to be centrally purchased in Germany, to benefit from economies of scale.
Quantum holds a 25% stake in Asola, and has initiated discussions related to an expanded partnership in a “Centralized Holding Structure”. Quantum and Asola also have entered into a long-term supply agreement with Ersol Solar Energy AG for the procurement of 155 MW of high-efficiency silicon photovoltaic solar cells, starting in 2008.
The Ersol agreement, along with supply contracts with other major suppliers including SUNERGY and MOTECH, guarantees a steady supply of solar cells to Quantum and Asola, according to the companies. Resulting sales from these supply agreements are expected to generate in excess of $600 million for Asola and Quantum.