ECD & Enfinity Sign 10-MW Solar Energy Deal

Energy Conversion Devices Inc. (ECD) and Enfinity NV announced plans to co-develop a portfolio of rooftop solar installations throughout the U.S., as well as in numerous European countries, including Belgium, Germany, France, Italy, Spain and the Czech Republic.

ECD and Enfinity have identified approximately 10 megawatts (MW) of projects that they will collaborate on in the short term. ECD, through its wholly owned subsidiary, United Solar Ovonic, will contribute UNI-SOLAR brand photovoltaic laminates in exchange for equity in the projects. Enfinity will serve as project manager and lead the financing efforts for the projects. ECD and Enfinity expect to sell completed projects to third-party investors within 12 months of the start of commercial operation.

“Enfinity is an excellent partner, with significant experience in developing and installing rooftop and BIPV applications in our focused geographic markets,” said Mark Morelli, ECD’s president and CEO.

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