SOLON & ersol Sign EUR 1 Billion Solar Cell Agreement

Early yesterday morning, Solon AG signed a contract worth approximately Euro 1 billion with ersol Solar Energy AG for the procurement of monocrystalline silicon solar cells over a period of eleven years, starting in 2009. Solon AG intends to use the ersol cells for the manufacture of Solon AG solar modules, which will subsequently be integrated as modules into “SOLON Movers” at solar power plants.

The agreement proposes that ersol, which is based in Erfurt in eastern Germany, receives down payments from Solon; these will later be offset against the purchase price to be paid by the module producer.

In September 2005 and August 2006 the two solar companies signed multi-year contracts for a total volume of about €670 million. The conclusion of this latest contract saw ersol increase its order volume for solar cells to roughly €2.8 billion.

“We are very pleased to have again earned the trust of our longstanding key customer Solon,” said Dr. Claus Beneking, ersol CEO, after the contract had been signed.

This agreement takes the value of contractually secured supplies of solar cells to SOLON AG from well-established solar cell manufacturers over the coming years to around €3 billion. The company’s “Solon Mover” is one of the the world’s largest industrially manufactured, turn-key solar tracking system. 

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