Solyndra & GeckoLogic Sign US $250M Solar Deal

Solyndra Inc. announced that it has signed a new long-term sales contract with solar integrator GeckoLogic GmbH. The contract value is approximately US $250 million and extends through 2012. The GeckoLogic contract is part of Solyndra’s previously-announced total contractual backlog of approximately US $1.2 billion.

The solar panels for GeckoLogic’s contracts will be manufactured at Solyndra’s facilities in California. Solyndra’s thin film PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops while uniquely providing much lower installation costs than conventional PV flat panel technologies, the company said.

“We are very pleased to announce this relationship with GeckoLogic. Their European expertise and emerging North American capabilities should enable exceptional growth in the fastest growing markets for commercial scale solar,” said Chris Gronet, Solyndra’s founder and CEO. “We expect that the Solyndra system’s ease and speed of installation can enable GeckoLogic crews to annually outfit significantly more commercial rooftops with solar.”

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