Oct 13 2006
Q-Cells AG, the world’s largest independent manufacturer of crystalline silicon solar cells, and PowerLight Corporation, the leading global provider of large-scale solar power systems, have entered into a five-year, $150 million photovoltaic PV supply agreement. Q- Cells will provide PowerLight with up to $150 million of high quality solar cells, with a PowerLight option to increase that volume by an additional $60 million of solar PV cells.
The Q-Cells - PowerLight partnership will allow Q-Cells (QCE; WKN 555866) to expand its presence in the U.S. solar market, and further ensure PowerLight’s leadership position as North America’s largest and most experienced provider of solar power systems for the commercial, public sector and production homebuilder markets.
Anton Milner, CEO and founder of Q-Cells, said, "We are very pleased that PowerLight has chosen to secure PV from Q-Cells. This deal will showcase the tremendous results that will come from combining PowerLight’s proven approach to design, development and deployment of solar power systems with Q-Cells' high-performance photovoltaic technology. Working in partnership with a highly-regarded solar company as PowerLight will allow both firms to further grow the worldwide market for solar power while reducing system costs over time.”
“Q-Cells is a leading PV supplier to the global solar marketplace,” noted PowerLight president Dan Shugar. “Their technology, growth rate and success has been tremendous and the supply of their PV to PowerLight will help us continue to deliver the highest-performing solar power systems for commercial, utility, public sector and residential customers around the world.”