San Diego-based Green Star Alternative Energy, Inc. has revealed that its recently acquired subsidiary Notos Solar d.o.o. has signed a letter of intent for the purchase of a 5MW turnkey thin-film PV manufacturing facility from Nanergy Hungary. With this move, Notos Solar d.o.o. is opening up the Serbian solar market as it has also secured the exclusive rights of the technology for use exclusively for the Republic of Serbia and Macedonia.
Nanenergy Hungary’s module manufacturing technology has led to greater manufacturing efficiency, lower production costs and greater profitability, while it is unclear why Nanergy has decided to sell the facility. According to Nanergy, the nature of the production facility’s design allows for easy expansion of the capacity in 5MW increments to greater than 100MW, while Notos Solar should be ready to begin full-scale manufacturing within ten months.
“We are happy to be in partnership with Notos Solar in expanding our proven technology – which is the most energy efficient thin-film paneling in the world,” said Dr. Zoltan Kiss, Nanenergy Hungary Ltd. “Also, by expanding into the very lucrative region of South-East Europe, which has some of the highest ratios of sunshine per hour in Europe, Notos Solar and Nanenergy are building a very strong platform for future developments in the region.”