Module manufacturer asola Advanced and Automotive Solar Systems GmbH concludes EUR 230 million contract with Ersol
Cell deliveries for a period of 10 years; Joint focus on the US market with California-based Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW)
Erfurt, 2 November 2007
Source: Asola Power.com press release
http://www.asola-power.com/output/en/news.htm
From 2008, ersol Solar Energy AG (ersol) will deliver silicon solar cells to the module producer asola, based in Erfurt, Germany. To this end, both companies have today signed a long-term supply agreement that will run until 2017. The total volume of the contract amounts to around € 230 million. ersol is scheduled to receive down payments from asola, which will later be credited to the German module producer, when purchasing solar cells, in the form of a purchase price reduction.
(more…)