Masdar PV signs multi-year off-take agreement with COLEXON for delivery of more than 150 MWp solar modules
- Masdar PV will provide leading-edge solar modules to COLEXON from 2009 until 2013
- Recently entered research & development alliance with renowned Helmholtz Center Berlin, an important factor to win COLEXON as new customer
Masdar PV GmbH, producer of large-scale PV modules, and COLEXON Energy AG, a leading system integrator company for large-scale solar power plants, have signed a binding off-take agreement for the delivery of thinfilm solar modules. The agreement initially comprises the supply of more than 150 MWp thin-film solar modules from 2009 to 2013. With expansion of Masdar's production capacities planned, COLEXON will also be entitled to participate proportionally and receive 25% of any extra available output.
Masdar PV is currently building its first production site at Erfurt with production rampup beginning in the third quarter of 2009. A second factory in Abu Dhabi will start production as early as summer 2010. Masdar PV will produce large-scale thin-film modules of up to 5.7m2 in size. The company's innovative thin-film silicon-based technology will offer an ideal cost-performance ratio for customers. This cost advantage is further advanced through an exclusive co-operation between Masdar PV and the Helmholtz Center Berlin (HZB) to jointly develop new processes on 5.7m2 substrates to boost module efficiencies while lowering material costs.
Dr. Rainer Gegenwart, Masdar PV's Chief Executive Officer, explains the reasons behind this new partnership: "We recognize COLEXON as a market-leading system integrator and strongly appreciate their special expertise in the handling and usage of thin-film modules. In addition, COLEXON will further strengthen its international market position through the recently announced merger with Renewagy A/S, a wellestablished operator of solar power plants. These factors make COLEXON an ideal partner to ensure the smooth and successful market entry of our innovative products".
"Masdar PV is a strong business partner with support from the Government of Abu Dhabi - a very important issue in current markets", comments Thorsten Preugschas, Chief Executive Officer of COLEXON Energy AG. "Moreover, Masdar recently joined forces with the HZB and its renowned Professor Bernd Rech, one of the world's leading scientists in the area of thin-film photovoltaics. This gave us strong confidence that Masdar PV will be a strong technical partner, as they are planning to become a world leading producer for thin-film solar modules." By providing Masdar's products in future, COLEXON is confident that it can offer its customers the most reliable solar modules with the best cost-performance ratios and thereby further improve the company's market position.
Masdar PV is in advanced talks with other leading offtakers and expects to announce further contracts up or during the World Future Energy Summit, taking place in Abu Dhabi from 19 - 21 January 2009.
About COLEXON Energy 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. (from 100 kWp onwards). COLEXON Energy AG is listed in the Prime Standard at the German Stock Exchange in Frankfurt.
About Masdar PV GmbH
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 $15 billion in Masdar, the largest single government investment of its kind.