COLEXON and Masdar PV enter long-term strategic partnership

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COLEXON Energy AG and Masdar PV GmbH entered into a long-term strategic partnership that will run until 2013 and produce more than 150MWp of solar modules. COLEXON is the first company to commit to such an agreement with Masdar and does so after the recent news of its merger plans with Renewagy.

Masdar is a subsidiary of the Abu Dhabi Future Energy Company and working directly with the Masdar Initiative, the company is investing around US$600 million for the two foundation factories. The first production site will start operations in third quarter 2009 in Erfurt, Germany, while the second factory will start production in the second quarter of 2010. Once both sites are operational, they will initially reach a total production capacity of 210MWp per year.

Dr. Rainer Gegenwart, current CEO of Masdar PV and former head of the department VP Technology at COLEXON, commented, “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 operator 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.”

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