Ascent Solar has signed a strategic alliance with Indian industrial and engineering conglomerate, Kirloskar Integrated Technologies. This accord results from the collaboration achieved thus far under a memorandum of understanding signed in September 2009 between the two companies.
Terms of the multiphase deal call for the two companies to begin integration, marketing, and distribution of Ascent’s flexible CIGS thin-film photovoltaic modules into a variety of market opportunities in India.
The second phase of the agreement provides for the establishment of a complete back-end module assembly plant in India, while the third and final phase of the contract is designed to expand production in India to include complete end-to-end CIGS module manufacturing.
Neither the financial terms of the agreement nor the projected timeline of the production roll-out have been announced.
“Kirloskar’s vision is to provide decentralized sustainable solutions based on renewable resources,” said company CEO L.A. Joshi. “Having successfully established energy solutions using technologies like anaerobic digestion of organic waste and nonedible vegetable oil and biodiesel, we were in search of appropriate partner for solar photovoltaics which can compliment Kirloskar’s strength as a leader in distributed power generation.”
“We are pleased to have Ascent as our partner in the endeavor to harness the very large solar energy potential related to off-grid and on-grid applications, by taking advantage of the favorable policies of the Indian government,” he continued.” We truly believe that the leading-edge technology of Ascent and the synergy in our strategies will help us establish a leadership position in PV markets in India.”
Farhad Moghadam, president/CEO of Ascent, noted that his company’s “relationship with Kirloskar provides Ascent Solar with a partner for development of multiple market opportunities in a rapidly advancing country like India. We believe that Kirloskar has significant relationships and well established sales and marketing channels in key target markets for defense, space, consumer electronics, and hybrid diesel generators.”
Ascent is ramping the first 15MW of its projected 30MW roll-to-roll production line (Fab 2) in Thornton, CO, with full volume capacity expected by the end of 2010.