COLEXON and Masdar PV enter a strategic partnership for the delivery of thin film modules
- Agreement for the delivery of more than 150 MWp modules until 2013
- COLEXON introduces innovative thin film modules to the European market
- Masdar PV modules provide cost- and technology advantages
COLEXON Energy AG, one of the leading developers of thin film PV power plants, and Masdar PV GmbH, a producer of innovative thin film modules, have entered a long-term strategic partnership. The agreement runs until 2013 and covers a total volume of more than 150 MWp solar modules. The modules are fabricated with a highly advanced, thin film silicon-based technology and offer investors a higher degree of efficiency and a more attractive cost-performance ratio. COLEXON is the first company to sign such an agreement with Masdar PV and therefore takes the lead in introducing these innovative solar modules to the European market.
Masdar PV is a 100 percent subsidiary of the Abu Dhabi Future Energy Company. In line with the Masdar-Initiative, the company will invest approx. 600 million US-Dollars in the foundation of two factories. The first production site will start with operations in the third quarter 2009 in Erfurt, Germany. The second factory will go on line in the second quarter 2010. Together both production sites will initially reach a total production capacity of 210 MWp per year.
COLEXON has a close relationship with Masdar since the foundation of the Masdar- Initiative. Dr. Rainer Gegenwart, CEO of Masdar PV GmbH, is the former head of the department VP Technology of COLEXON and is one of the leading experts in thin film technology. Joachim Nell, COO of Master PV GmbH, is the former vice-president of the solar distribution sector of Applied Materials and has gained profound experience in the production process. With the financial support of the Abu Dhabi Future Energy Company the team of Masdar PV develops in an external cooperation with the Helmholtz Center Berlin (HBZ) and the renowned scientist Prof. Dr. Bernd Rech a new generation of highly innovative and efficient thin film modules. They provide considerable cost- and technology advantages and are an attractive investment alternative for yield oriented investors.
In line with the recently announced plans to merge with the Danish Renewagy A/S the strategic cooperation with Masdar PV is another important step to strengthen the dynamic growth of COLEXON and to foster its sustainable business development.
Thorsten Preugschas, CEO of COLEXON Energy AG, is looking forward to the cooperation: "With the innovative thin film modules of Masdar we further strengthen our market position in this segment." Mister Preugschas adds: "The involvement of the Abu Dhabi Future Energy Company gives Masdar a solid and strong financial basis. We are happy to have gained a dependable and technologically highly advanced business partner."
Dr. Rainer Gegenwart, CEO of Masdar PV, has also high expectations regarding the strategic alliance: "As project developer of large thin film PV power plants COLEXON has already acquired a leading market position in Germany and abroad. We are convinced, that the recently announced merger with Renewagy A/S, a well established operater of PV power plants, will additionally strengthen COLEXON's international market presence. With this partnership we are able to successfully set up and accelerate our market entry."
About Masdar PV
Masdar PV GmbH is a leading global developer of advanced thin-film photovoltaic products and solutions. It aims to become a top-3 global thin-film PV company by 2013, starting with 210 MWp of production at plants in Germany and Abu Dhabi, UAE. Masdar PV GmbH is a 100 % subsidiary of Abu Dhabi Future Energy Company (ADFEC), and is part of the Masdar Initiative, Abu Dhabi's multi-faceted, multi-billion dollar investment in the development and commercialization of innovative technologies in renewable energy and sustainability. ADFEC is wholly owned by the government of Abu Dhabi through the Mubadala Development Company. In January 2008, Abu Dhabi announced it will invest USD15 billion in Masdar, the largest single government investment of its kind.
About 7C Solarparken AG
The international COLEXON group is one of the leading manufacturer-independent system integrators in the photovoltaic sector. The company designs and installs turnkey photovoltaic plants for institutional and private investors in Germany and abroad. COLEXON is specialized in the realization of return optimized and large scale photovoltaic projects. COLEXON Energy AG is listed in the Prime Standard at the German Stock Exchange in Frankfurt.