FREMONT, USA: Solyndra Inc. commenced construction of its second solar panel manufacturing plant (Fab 2).
Located near its current manufacturing facility in Fremont, California, Fab 2 is designed to produce 500 megawatts per year. The new facility will enable Solyndra to fulfill its announced contractual backlog of over $2 billion and create additional jobs. Solyndra's two Fabs will produce enough solar panels over their lifetime to cut over 350 million metric tons of CO2 emissions or 850 million barrels of oil.
“The economy needs clean tech alternatives to help it recover, but our planet requires clean tech solutions in order to survive,” said Solyndra CEO and founder, Dr. Chris Gronet.
“Fab 2 will allow us to meet customer demand while making a positive impact on the world’s energy and environmental needs. We are grateful for the vision and support of President Barack Obama, the US Department of Energy, the US Congress, and our investors.”
The first phase of Fab 2 is being financed by public and private sources. Solyndra is the first company to receive a loan guaranteed by the US Department of Energy under Title XVII of the Energy Policy Act of 2005.
The $535 million loan from the US Treasury, combined with $198 million from an equity financing round led by Argonaut Private Equity, provide the capital required for the project. Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with the DOE loan guarantee.
Solyndra estimates that the construction of Fab 2 will employ over 3,000 people, the ongoing operation of the facility will create over 1,000 jobs, and that installation of Solyndra PV systems will generate hundreds of additional jobs.
Showing posts with label Solyndra. Show all posts
Showing posts with label Solyndra. Show all posts
Saturday, September 5, 2009
Wednesday, July 8, 2009
Solyndra signs $238mn contract with Umwelt-Sonne-Energie
FREMONT, USA: Solyndra Inc., a manufacturer of innovative proprietary photovoltaic (PV) systems for commercial rooftops, has signed a new long-term sales contract with solar integrator Umwelt-Sonne-Energie GmbH (USE), based in Holzgerlingen, Germany.
The Euro-based contract, worth up to $238 million, extends through 2013 and brings Solyndra's contractual backlog to more than $2 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"We are very happy to announce this relationship with USE, a highly innovative integrator of large-scale PV systems. USE’s strong presence in Germany and eastern Europe, coupled with Solyndra’s breakthrough PV systems, will accelerate the deployment of world-class photovoltaic installations on commercial rooftops in these very attractive markets," said Dr. Kelly Truman, Solyndra’s VP of Marketing and Business Development.
Solyndra's cylindrical, thin film PV systems are designed to generate more electricity on an annual basis from typical low-slope commercial rooftops, while uniquely providing much lower installation costs than conventional flat panel PV technologies.
"As a company focused on innovation in photovoltaics, we are very excited to announce this partnership. Solyndra’s revolutionary technology redefines performance for large roofs compared to conventional PV technologies in terms of installation cost, non-penetrating wind performance, rooftop loading, and energy production per roof,” states Arnold Berens, Managing Director of USE.
"Solyndra's innovative cylindrical module geometry and fast and easy mounting technology provide definitive proof that even today, dramatic breakthroughs in PV engineering are possible,” added Daniel Grünauer, Managing Director of USE.
The Euro-based contract, worth up to $238 million, extends through 2013 and brings Solyndra's contractual backlog to more than $2 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"We are very happy to announce this relationship with USE, a highly innovative integrator of large-scale PV systems. USE’s strong presence in Germany and eastern Europe, coupled with Solyndra’s breakthrough PV systems, will accelerate the deployment of world-class photovoltaic installations on commercial rooftops in these very attractive markets," said Dr. Kelly Truman, Solyndra’s VP of Marketing and Business Development.
Solyndra's cylindrical, thin film PV systems are designed to generate more electricity on an annual basis from typical low-slope commercial rooftops, while uniquely providing much lower installation costs than conventional flat panel PV technologies.
"As a company focused on innovation in photovoltaics, we are very excited to announce this partnership. Solyndra’s revolutionary technology redefines performance for large roofs compared to conventional PV technologies in terms of installation cost, non-penetrating wind performance, rooftop loading, and energy production per roof,” states Arnold Berens, Managing Director of USE.
"Solyndra's innovative cylindrical module geometry and fast and easy mounting technology provide definitive proof that even today, dramatic breakthroughs in PV engineering are possible,” added Daniel Grünauer, Managing Director of USE.
Monday, May 11, 2009
Solyndra in sales contract with SunConnex
FREMONT, USA: Solyndra Inc., a manufacturer of innovative proprietary photovoltaic (PV) systems designed to optimize solar electricity production on commercial rooftops, has signed a new long-term sales contract with solar integrator SunConnex B.V., based in Amsterdam.
The Euro-based contract is worth up to $189 million and extends through 2013. The SunConnex deal brings Solyndra's announced contractual backlog to nearly $1.7 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"We are very pleased to announce this relationship with SunConnex. Their expertise in the Benelux region and across Europe should enable exceptional growth in one of the hottest markets for commercial scale solar, " said Solyndra founder and CEO Chris Gronet. "We expect that the Solyndra system's ease and speed of installation will enable SunConnex to rapidly and efficiently outfit significantly more commercial rooftops with solar."
Solyndra's thin film PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops while uniquely providing much lower installation costs than conventional PV flat panel technologies.
"Our goal is to offer groundbreaking products at reasonable prices. Solyndra's unique design is an excellent fit with this strategy," said Kie Tan, CEO and co-founder of SunConnex. "The Solyndra system enables our customers to generate more kWh of energy from a given rooftop, at industry-leading economics. Plus, the non-penetrating mounting system gives our customers confidence that their roof will never leak."
The Euro-based contract is worth up to $189 million and extends through 2013. The SunConnex deal brings Solyndra's announced contractual backlog to nearly $1.7 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"We are very pleased to announce this relationship with SunConnex. Their expertise in the Benelux region and across Europe should enable exceptional growth in one of the hottest markets for commercial scale solar, " said Solyndra founder and CEO Chris Gronet. "We expect that the Solyndra system's ease and speed of installation will enable SunConnex to rapidly and efficiently outfit significantly more commercial rooftops with solar."
Solyndra's thin film PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops while uniquely providing much lower installation costs than conventional PV flat panel technologies.
"Our goal is to offer groundbreaking products at reasonable prices. Solyndra's unique design is an excellent fit with this strategy," said Kie Tan, CEO and co-founder of SunConnex. "The Solyndra system enables our customers to generate more kWh of energy from a given rooftop, at industry-leading economics. Plus, the non-penetrating mounting system gives our customers confidence that their roof will never leak."
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