MENLO PARK, USA: Solar EnerTech Corp. has entered into a 10MW contract to deliver its solar modules to Solarzentrum Allgau, one of the leading solar system integrators in Germany.
The total shipment value to Solarzentrum Allgau under the contract is approximately $20 million. Shipments, aimed for solar power installations in Germany, are scheduled to begin immediately and will be delivered throughout the current calendar year.
Solarzentrum Allgau was founded in 1985 in Altdorf, Germany. The company has benefitted from Germany's introduction of the Renewable Energy Sources Act in March 2000 and has grown its operations through its specialization of sale, assembly and installation of PV systems.
The company is also the founder of an information and advisory center about solar energy in the county of Allg?u. Its President, Willi Bihler is considered a visionary in the field for his innovations in solar power installation.
Leo Young, CEO of Solar EnerTech, commented: "This is an exciting new project for Solar EnerTech which can accelerate our financial performance for this calendar year. It shows that our strategy of enhancing our operating facility and improving our product efficiency is paying off."
"The quality of our solar modules are well known to Solarzentrum Allgau as we have served as a supplier to their rooftop projects in the past. Our high-quality, efficient and reliable products continue to garner increased attention among many well-known PV system integrators, which has improved our competitive advantage in winning new contracts."
Willi Bihler, Proprietor of Solarzentrum Allgau commented: "Solar EnerTech's solar products and support services meet the criteria for high quality and performance that we demand from our suppliers. When we encounter some technical issues during our installations, Solar EnerTech's team is always available to assist us with the appropriate solutions. We look forward to further developing our relationship with Solar EnerTech and believe that through their support, we have a compelling opportunity to gain a larger share of the German market going forward."
Showing posts with label Solar EnerTech. Show all posts
Showing posts with label Solar EnerTech. Show all posts
Saturday, June 27, 2009
Wednesday, April 29, 2009
Solar EnerTech, Jiangsu Shunda in solar JV
MENLO PARK, USA: Solar EnerTech Corp. announced the establishment of a joint venture with Jiangsu Shunda Semiconductor Development Co. Ltd, a leading PV raw material manufacturer, to pursue solar expansion opportunities in the US region.
Jiangsu Shunda is one of the largest polysilicon and wafer manufacturers in China, with an annual production output of approximately 1,500 metric tons of polysilicon.
The US JV company, which will be called Shunda-SolarE Technologies, Inc., is expected to begin operating in early May of 2009. The joint venture is expected to utilize Jiangsu Shunda's strength in polysilicon and wafer supply and Solar EnerTech's advanced solar cell technologies as well as its resources in the US market. Overall, both parties believe the joint venture establishes a vertically integrated operation in the US market with services ranging from the production of polysilicon to ingots and wafers, to solar cells, panels and solar system installation.
Jiangsu Shunda and Solar EnerTech contributed $1.0 million and $0.7 million in cash respectively to the initial setup cost of the JV. Jiangsu Shunda will own 55 percent of the JV company, Solar EnerTech will own 35 percent and the management of the JV will own the remaining 10 percent. Yunda Ni, President of Jiangsu Shunda will serve as the JV Chairman of the Board, Leo Young, CEO of Solar EnerTech will serve as the Board's Vice Chairman. The Board of Directors will be comprised of five seats, three of which will be reserved for Jiangsu Shunda and two for Solar EnerTech. A Chief Executive Officer of Shunda-SolarE Technologies is expected to be identified in the near future.
Leo Young, CEO of Solar EnerTech, commented: "We are extremely pleased to establish this joint venture with Jiangsu Shunda, a highly successful polysilicon manufacturer in China. We have a compelling opportunity to penetrate the US market with the establishment of this JV. Solar EnerTech has strong R&D capabilities supported by an outstanding technical team, and a fully operational US office governed by experienced management whereas Jiangsu Shunda maintains a UL listing, which is instrumental in conducting large scale operations in the US market, and controls the upstream supply which can provide large volumes of silicon feedstock to the JV in order to secure sizeable contract orders in the growing US market. Together, we can more easily penetrate US solar opportunities and establish Shunda-SolarE as a leading brand recognized for high quality solar products and service. We plan on providing investors with additional information on this JV in the coming weeks and months ahead."
Ni, President of Jiangsu Shunda added: "The goal of this joint venture is to build market share in the U.S. and maximize profitability. There is great synergy between both companies as well as with myself and Leo. Together, we believe we have an excellent opportunity to expand our market presence in the U.S. We look forward to a successful venture together."
Jiangsu Shunda is one of the largest polysilicon and wafer manufacturers in China, with an annual production output of approximately 1,500 metric tons of polysilicon.
The US JV company, which will be called Shunda-SolarE Technologies, Inc., is expected to begin operating in early May of 2009. The joint venture is expected to utilize Jiangsu Shunda's strength in polysilicon and wafer supply and Solar EnerTech's advanced solar cell technologies as well as its resources in the US market. Overall, both parties believe the joint venture establishes a vertically integrated operation in the US market with services ranging from the production of polysilicon to ingots and wafers, to solar cells, panels and solar system installation.
Jiangsu Shunda and Solar EnerTech contributed $1.0 million and $0.7 million in cash respectively to the initial setup cost of the JV. Jiangsu Shunda will own 55 percent of the JV company, Solar EnerTech will own 35 percent and the management of the JV will own the remaining 10 percent. Yunda Ni, President of Jiangsu Shunda will serve as the JV Chairman of the Board, Leo Young, CEO of Solar EnerTech will serve as the Board's Vice Chairman. The Board of Directors will be comprised of five seats, three of which will be reserved for Jiangsu Shunda and two for Solar EnerTech. A Chief Executive Officer of Shunda-SolarE Technologies is expected to be identified in the near future.
Leo Young, CEO of Solar EnerTech, commented: "We are extremely pleased to establish this joint venture with Jiangsu Shunda, a highly successful polysilicon manufacturer in China. We have a compelling opportunity to penetrate the US market with the establishment of this JV. Solar EnerTech has strong R&D capabilities supported by an outstanding technical team, and a fully operational US office governed by experienced management whereas Jiangsu Shunda maintains a UL listing, which is instrumental in conducting large scale operations in the US market, and controls the upstream supply which can provide large volumes of silicon feedstock to the JV in order to secure sizeable contract orders in the growing US market. Together, we can more easily penetrate US solar opportunities and establish Shunda-SolarE as a leading brand recognized for high quality solar products and service. We plan on providing investors with additional information on this JV in the coming weeks and months ahead."
Ni, President of Jiangsu Shunda added: "The goal of this joint venture is to build market share in the U.S. and maximize profitability. There is great synergy between both companies as well as with myself and Leo. Together, we believe we have an excellent opportunity to expand our market presence in the U.S. We look forward to a successful venture together."
Subscribe to:
Posts (Atom)
