Solar, Utility Integration

Solar Integrated Sells Stake in German Firm

Thin-film building integrated photovoltaic (BIPV) solar company Solar Integrated Technologies (SIT) announced the sale of its stake in a German solar PV installation company. It has also secured a long-term solar supply commitment and plans to provide solar for a large solar installation at a military facility in the U.S.

SIT sold its 30 percent interest in Dachland GmbH, a privately owned German company that specializes in installing single-ply, green and photovoltaic roofing systems, for nominal cash consideration. SIT also entered into a supply arrangement with Dachland pursuant to which Dachland has agreed to purchase from Solar Integrated at least 8 MW of BIPV roofing systems through 2008. “The key driver for the Dachland investment was to provide Solar Integrated with a sales and installation platform for expansion into the critical German market,” stated Jon W. Slangerup, Chief Executive Officer of Solar Integrated. “However, as we began to penetrate the market in Europe, we became strategically focused on developing additional distribution channels with qualified installation capabilities. In 2005, we made significant progress with this approach, including commercial arrangements with Dachland and through a Cooperation Agreement with our strategic partner, Sarnafil International AG. In the last six months of 2005, we sold and delivered a total of 16 projects in France, Germany and Spain.” In an unrelated arrangement, SIT announced that it won a $2.5 million contract from Honeywell Building Solutions. Under the contract, Solar Integrated will help Honeywell install a 144,000 square foot BIPV roofing system on a building that forms part of the Base Exchange at Luke Air Force Base (AFB), Arizona. The BIPV roofing system will initially include 122 kW of solar power, with an additional 253 kW of solar power pre-wired or “solar ready” for planned future project expansion.