NewEnergyNews: INDIA, GERMAN FIRMS TO BUY SOLAR FROM ATLANTA & ATLANTA BUYS FROM NORWAY/

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    Sunday, August 24, 2008

    INDIA, GERMAN FIRMS TO BUY SOLAR FROM ATLANTA & ATLANTA BUYS FROM NORWAY

    A solar module manufacturer from India signed an agreement to buy parts from a U.S. company. A solar module manufacturer from Germany signed an agreement to buy parts from the same U.S. company. The U.S. company signed an agreement to buy parts from a company in Norway.

    The deals should help the U.S. company get financing to scale up its low-cost manufacturing process.

    The sequence of the deals is indicative. The U.S. plant has the technological innovation but no money to develop its breakthrough manufacturing process. So it signs deals with companies in nations (India and Germany) whose policies promise to provide all the business their solar industries can generate.

    With those contracts, the U.S. company gets venture capital to build its plant and financially commit for the raw materials it needs. It will buy those raw materials from another country (Norway) where public policy keeps its solar industry busy.

    Somehow it doesn’t seem right that the world’s biggest energy consuming nation needs to depend on public policies in other countries to build its own New Energy infrastructure.


    click to enlarge

    Suniva lands $480M supply deal
    Urvaksh Karkaria, August 21, 2008 (Atlanta Business Chronicle)
    and
    Suniva makes $480 million deal with Indian firm
    Michael Pearson, August 21, 2008 (Atlanta Journal-Constitution)

    WHO
    Suniva Inc. (Professor Ajeet Rohatgi, founder; John Baumstark, CEO); Titan Energy Systems Ltd; Solon AG; Renewable Energy Corp. (REC)

    WHAT
    Titan signed a purchase agreement for $480 million of Suniva silicon solar cells over the next five years and Solon signed a similar $500 million, 4-year agreement with Suniva. Suniva signed a $300 million agreement to buy silicon wafers from REC.

    Steps that will happen all around the world. (From Yingli Green Energy - click to enlarge)

    WHEN
    - The purchase agreement runs through 2013.
    - Suniva’s plant expected on line by the end of 2008.
    - August 6, 2008: Suniva signed a similar deal, running through 2012, to supply Solon with $500 million of solar cells.
    - February, 2008: Suniva got $50 million in financing from a group of investors that included New Enterprise Associates, Goldman Sachs-subsidiary Cogentrix Energy Inc. and H.L.G. Ventures LLC.
    - 2005: Suniva founded by Rohatgi

    WHERE
    - Suniva is based in Norcross, Georgia.
    - Titan is based in Andhra Pradesh, India.
    - Solon AG is based in Berlin, Germany.
    - Renewable Energy Corp. is based in Sandvika, Norway.
    - Suniva founder Ajeet Rohatgi came out of the Georgia Tech faculty.

    WHY
    - The Suniva monocrystalline silicon solar cells will be used in Titan’s highest efficiency solar modules.
    - Suniva monocrystalline silicon solar cells will also be used in Solon’s solar modules.
    - Suniva is still seeking $100 million in financing to commercialize Rohatgi’s low-cost, high-efficiency solar cell manufacturing process.
    - Suniva is retrofitting a $75 million plant in Norcross, Georgia, that will employ 600.
    - The Suniva operation will purchase $300 million in silicon wafers over 5 years from REC.

    click to enlarge

    QUOTES
    - Rao SYS Chodagam, Managing Director, Titan: “Suniva’s optimized solar cells fit well with Titan’s high-efficiency module application platform, and this agreement allows us to diversify our quality supply chain…In addition, we look forward to a solid collaboration with Suniva’s exceptional technical team.”
    - John Baumstark, CEO, Suniva: “As Suniva expands its international presence in Europe and Asia, we are happy to establish this relationship with Titan, one of the world’s highest quality solar module manufacturers…This agreement furthers Suniva’s strategy of manufacturing and delivering high-efficiency, low-cost cells to the preeminent module manufacturers across the globe.”

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