Signet Solar and Tejados Fotovoltaica de Industriales Group have signed a definitive module supply agreement for Signet to supply to the Spanish EPC company TIF a minimum of 10MW of single-junction amorphous-silicon thin-film PV modules for shipments before the end of June 2010. The deal also calls for a continued panel 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. “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.”
“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 cost advantages for my company, which I expect will continue to enable higher IRRs for our investors,” said Klaus Mueller, CEO of TIF.
“Based on Signet’s 10-15% higher output performance advantage in higher insolation areas such as Italy and Spain, and the bankability of Signet’s modules, now with over 10 debt financers, I am confident I have made the right long-term strategic partnership.”
Signet, which has more than 15 solar farm and commercial rooftop installations in the U.S. and Europe, recently announced the introduction of its 400W single-junction a-Si TFPV module as well as the development of a 1.8MW project with BSC-Solar in the Czech Republic.