United Solar Ovonic Signs Agreement To Supply 21.15 MW Of Thin-Film PV Laminates

October 09, 2007 by Jeff Shepard

United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices, Inc., announced that it has signed a multi-year supply agreement with Enfinity Management BVBA for 21.15MW of UNI-SOLAR® thin-film photovoltaic (PV) laminates. Under the agreement, United Solar will supply Enfinity 1.15MW in calendar year 2007 and 10MW in each of the calendar years 2008 and 2009. Enfinity intends to use the UNI-SOLAR® products for roof-top installations in Europe.

"The UNI-SOLAR product is uniquely suited for roof-top applications because it is lightweight, provides superior electricity generation and integrates directly into the roof structure. These advantages, combined with the ease of installation, provide a cost-effective solution that we can offer to our customers," said Gino Van Neer, Chief Executive Officer of Enfinity.

Enfinity, headquartered in Ghent, Belgium, has raised private equity funds for PV projects in Europe. It has already financed PV projects with a total capacity of more than 30MW and is planning to finance several hundred megawatts through 2010.

"We are pleased to have established this multi-year supply relationship with Enfinity, a leading investor in PV projects. Investors like Enfinity see the unique value proposition offered by our UNI-SOLAR products, particularly for roof-top systems where our product features provide a cost-effective PV solution. We look forward to working closely with Enfinity and its customers on the success of these roof-top projects," said Subhendu Guha, the President and Chief Operating Officer of United Solar Ovonic.

According to the company, unlike traditional crystalline technology, which typically uses heavy glass panels, UNI-SOLAR products are flexible, durable, lightweight and easy to install. Because of these characteristics, UNI-SOLAR triple-junction products are said to offer the ideal solution for both grid-connected and off-grid solar electric systems. The company claims that independent studies in Europe and elsewhere have shown that triple-junction products deliver more energy per rated power than the conventional crystalline products.