Solar, Utility Integration

Solar-Fabrik AG Enters into Solar Cell and Wafer Processing

Freiburg, Germany [RenewableEnergyAccess.com] The Solar-Fabrik AG Management Board has entered into wafer processing with a signed letter of intent to invest in the Poseidon Chemicals company located in Chennai, India. Poseidon recycles wafers from the semiconductor industry into high-quality raw material for producing solar cells. Upon signing the contract, Solar-Fabrik will hold 80% of Poseidon through its subsidiary Solar-Fabrik Services Pte Ltd. In an earlier announcement, Solar-Fabrik AG is expanding its value chain to include solar cell production, thus becoming an integrated solar corporation. The company has signed an LOI for a holding in Solar Energy Power Pte Ltd. (SEP) of Singapore. Once the purchase agreement has been fulfilled, Solar-Fabrik AG will hold 33 1/3% of the shares of SEP via its newly founded 100% subsidiary company Services Pte Ltd. of Singapore.