Signet Solar, Tejados Industriales De Fotovoltaica execute definitive 10MW module supply agreement

MOCHAU, GERMANY: Germany based Signet Solar and Spanish Tejados Fotovoltaica de Industriales (TIF) Group, a leading EPC company based in Benissa, Spain announced that the two companies have executed a definitive module supply agreement for Signet to supply to TIF a minimum of 10MW of single junction silicon thin film modules for shipments before the end of June 2010, and a continued module supply relationship for the remainder of 2010 and in future years.

“This agreement will serve as a strong foundation to the long standing successful relationship between Signet Solar and TIF Group in Spain and Italy,” said Gunter Ziegenbalg, Managing Director of Signet Solar GmbH, at the signing ceremony. “TIF’s extensive market expertise and access to significant equity investors combined with Signet’s aggressive approach in helping its customers attain bankability through its debt and equity partners are a perfect fit.”

“I am very excited to have Signet as my strategic partner for solar PV deployments,” said Klaus Mueller, CEO of Tejados Fotovoltaica de Industriales Group. “Signet’s consistent execution to its roadmap of releasing industry leading PV efficiencies and power output for its single junction silicon thin film PV modules has enabled Balance of System (BOS) cost advantages for my company, which I expect will continue to enable higher IRR’s for our investors.

"Based on Signet’s 10-15 percent higher output performance advantage in higher insolation areas such as Italy and Spain, and the bankability of Signets modules, now with over 10 debt financers, I am confident I have made the right long term strategic partnership.”