Spire to Provide 25 Megawatt Turnkey Solar Module Manufacturing Line to PLG Power Limited in India
Bedford, MA, June 4, 2008
Source: Spire Corp. press release
http://phx.corporate-ir.net/phoenix.zhtml?c=76421&p=irol-newsArticle&ID=1162241
Spire Corporation (Nasdaq: SPIR), a global solar company providing turnkey solar factories and capital equipment to manufacture photovoltaic cells and modules worldwide, today announced that it has received a contract from PLG Power Limited (PLG Group) to provide a state-of-the-art, turnkey photovoltaic module assembly line in India. PLG Power Limited is the Energy and Power division of PLG Group, a multifaceted organization involved in manufacturing and agro-based industries located in Mumbai and Kolkata, India. This will be the company’s first state-of-the-art solar energy facility and will complement its other business elements.
Spire will provide PLG Power Limited with a high performance, semi-automated crystalline cell module manufacturing line capable of producing up to 25 megawatts of solar modules per year. Spire will supply the process technology and training to operate the factory, as well as assistance in qualifying the factory and its modules to international standards and certification. The line will integrate Spire’s key interconnect, lamination, and testing machines, along with intermediate tooling stations.
“We are excited to be chosen for this turnkey solar factory line by PLG Group,” said Roger G. Little, Chairman and CEO of Spire Corporation. “The photovoltaics market is expanding exponentially in India and is expected to grow by more than 500% in the next few years. Given this rapid expansion, companies need to enter the market quickly and efficiently. Spire adds great value to manufacturers with our ability to deliver a complete solar factory, along with all of the training needed to succeed in the solar business. We have strong representation in India and Spire is well positioned to meet the needs of our growing customer base there.”
Mr. Punit K. Goyal, Chairman and Managing Director of PLG Group said, “We are extremely pleased to be working with Spire Corporation. As the market leader in turnkey solar module lines and equipment, they offer us an excellent path to expansion and future vertical integration. This flexibility is important to our business plan and will allow us to grow rapidly. Spire has a solid history and years of experience in solar capital equipment, and this experience will be critical to our success in the solar industry.”