Solar Power & Solyndra Execute US $325M Supply Deal

Solar Power Inc. has executed an amendment to its current supply agreement with Solyndra Inc., a manufacturer of CIGS (copper indium gallium selenide) thin-film solar photovoltaic (PV) panels. The amended agreement, signed July 24, 2008, has a product value of approximately US $325 million for the delivery of solar panels between 2008-2012 with yearly increasing volumes and decreasing price per watt of peak output.

SPI will be one of the first companies in the U.S. to offer Solyndra’s PV panels to its customers. The panels feature a unique cell geometry which enables rapid installation and high energy production for large-scale rooftops, according to Solyndra.

“We are very excited about this agreement,” said Steve Kircher, CEO of Solar Power, Inc. “Solyndra’s panels are highly innovative and offer unique design features that differentiate them from conventional panels. Their panels and simple mounting systems are quick toinstall and have outstanding energy production. The addition of their products to our portfolio extends the range of installation opportunities we now have, especially where available space and/or system weight are considerations.” 

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