Storage

EPV Gains Funds to Expand Thin-Film Solar Manufacturing

Hamilton, New Jersey [RenewableEnergyAccess.com] Energy Photovoltaics, Inc. (EPV) has closed on $77.5 million of senior secured notes that are convertible into common stock of EPV. EPV will use the proceeds to increase its manufacturing capacity, enabling the company to meet global demand for the company’s thin-film solar modules and products. EPV’s plans call for an increase of more than 85 megawatts (MW) of manufacturing capacity over the next 18 months. Up to 25 MW of this expansion will be completed in stages in the New Jersey region by the 2nd Quarter of 2008. EPV is currently considering several U.S. states and European countries as locations for remaining capacity expansion beginning in 2008 and beyond.