Jul 20 2010
Quantum Fuel Systems Technologies Worldwide, Inc has declared the signing of a memorandum of understanding by its German associate Asola, with the Canadian partner Evergreen Power Ltd for the purpose of establishing a solar module production plant in Ontario, Canada.
The plant is expected to have an annual manufacturing capacity of 30 MW solar modules utilizing mono and poly crystalline silicon solar cells and is anticipated to generate revenue of more than $60 million yearly. The manufactured modules will be marketed under the brand name Asola because Quantum possesses around 24.9% stakes in Asola.
Asola is planning to duplicate the conventional processes and quality management measures currently incorporated in its 45 MW production facility at Germany. The modules will incorporate the patented technologies of Asola and other features practiced at Germany and is planning to centralize the purchase of the key materials such as silicon solar cells at Germany to save on costs.
Asola’s founder and CEO Reinhard Wecker was happy associating with Evergreen Power and sought an earlier launch of products with latest and proven designs meant for the Canadian market.
Tim Burke, Evergreen Power Ltd’s COO expressed his happiness to be the first to sell PV modules produced in Ontario. He further added the company will be in a position to supply quality PV modules during the middle of the year 2011and to produce solar modules in the long run for the use of the automotive industry.
Quantum’s President and CEO Alan P. Niedzwiecki commented that the liberal feed-in-tariff plan makes Ontario a globally powerful solar energy market with indigenous production facilities of Asola will meet the local requirements.
Source: http://www.qtww.com