MOCHAU, Germany - (Business Wire) Germany based Signet Solar and Spanish Tejados Fotovoltaica de Industriales (TIF) Group, a leading EPC company based in Benissa, Spain today announced that the two companies have executed a definitive module supply agreement for Signet to supply to TIF a minimum of 10MW of single junction silicon thin film modules for shipments before the end of June 2010, and a continued module supply relationship for the remainder of 2010 and in future years. “This agreement will serve as a strong foundation to the long standing successful relationship between Signet Solar and TIF Group in Spain and Italy,” said Gunter Ziegenbalg, Managing Director of Signet Solar GmbH, at the signing ceremony. “TIF’s extensive market expertise and access to significant equity investors combined with Signet’s aggressive approach in helping its customers attain bankability through its debt and equity partners are a perfect fit.”
“I am very excited to have Signet as my strategic partner for solar PV deployments,” said Klaus Mueller, CEO of Tejados Fotovoltaica de Industriales Group. “Signet’s consistent execution to its roadmap of releasing industry leading PV efficiencies and power output for its single junction silicon thin film PV modules has enabled Balance of System (BOS) cost advantages for my company, which I expect will continue to enable higher IRR’s for our investors. Based on Signet’s 10-15% higher output performance advantage in higher insolation areas such as Italy and Spain, and the bankability of Signets modules, now with over 10 debt financers, I am confident I have made the right long term strategic partnership.”
About Signet Solar
Signet Solar, Inc. is a global company established in 2006 to bring Clean Affordable Renewable Energy™ to people and countries worldwide. Headquartered in Menlo Park, California, the company has been founded to design, develop, manufacture and market thin film silicon photovoltaic modules. A first mover in the commercialization of large area silicon thin film silicon photovoltaic technology, Signet’s modules will bring down the cost of solar power by reducing manufacturing costs, balance of system costs, and installation time. Signet’s products are designed for solar farms, large commercial installations, and building integrated photovoltaics (BIPV). For more information please visit www.signetsolar.com.
Signet Solar and Clean Affordable Renewable Energy are trademarks of Signet Solar, Inc. in the United States and other countries.
About Tejados Fotovoltaica de Industriales SL Group
Tejados Fotovoltaica de Industriales SL Group was formed in 2007 with the goal of being a leading Engineering, Procurement and Construction firm throughout Southern Europe. TIF has a diversified staff of experienced engineers, project managers and financial experts; and the company has over the last 24 months integrated operations with a network of other EPC’s across Europe to offer customers turnkey PV solution. TIF currently has approximately 6.8MW of roof top installations and 14MW in ground mounted solar power plants.
Signet Solar Inc.
Direct: +1-650-289-0399
pr@signetsolar.com
or
Tejados Fotovoltaica de Industriales SL Group
Klaus Mueller
Benissa (Alicante), Spain
Direct: + 34 609 6 13 827
tif_pvt@yahoo.es
