Abound Solar, a producer of thin-film solar photovoltaic modules, declared that it has entered into a long term purchase accord with ABEL ReTec, a turnkey renewable project developing company at Germany.
The company also declared that it has started fulfilling the accord with ABEL ReTec by making the first shipment of 1.2 MW worth of its AB1-series modules in the second quarter of 2011.
The contracted accord with ABEL ReTec is one among a series of client and partner agreements signed by the company recently. Earlier this year Abound Solar has signed 5.4 MW worth solar projects with Jatzke, Germany located Juwi Solar. It also has entered into a joint venture with Solarsis to enter the fast-growing Indian solar market.
During December last year Abound Solar has declared the receipt of a loan guarantee from the U.S. Department of Energy worth $400 million as loan guarantee as well as a round of equity investment of $110 million to augment its production capacity. The company has plans to build a photovoltaic module producing plant at Indiana in the US.
According to Tom Tiller, Abound Solar’s CEO, the deal between the companies proves the capability of Abound Solar to trade its solar modules in competitive markets such as Germany, while this adds to the exports of the country bringing in more jobs.
Source: http://www.abound.com/