India’s solar future

ASTI has entered into an MOU with The Energy and Resource Institute of New Delhi, India for a feasibility and implementation evaluation of Ascent Solar’s high-efficiency flexible thin-film CIGS modules.

(October 28, 2010 – BUSINESS WIRE)Ascent Solar Technologies Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, has entered into a memorandum of understanding (MOU) with The Energy and Resource Institute (TERI) of New Delhi, India. Under the terms of the MOU, TERI will perform testing and performance evaluation of Ascent Solar’s high-efficiency flexible thin-film CIGS modules and study the feasibility of including Ascent’s modules for TERI’s flagship program “Lighting a Billion Lives” (LaBL) and other projects currently under development at TERI.

Upon successful completion of evaluation of both technical and economical feasibility, TERI and Ascent Solar will mutually discuss and decide on the terms and conditions for the use of Ascent Solar’s modules for the LaBL program and or other projects. TERI and Ascent Solar will also decide on the implementation model to follow once the evaluation phase is complete.

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“Our collaboration with Ascent Solar will help engage the much needed newer, cutting-edge solar photovoltaic technologies into our ongoing electrification projects for rural applications including solar lighting through LaBL,” said Akanksha Chaurey, director, Decentralized Electricity Solutions and Lighting a Billion Lives Campaign, TERI.

India is one of the largest off-grid electricity markets in the world. Innovative and cost-competitive off-grid electricity generation in urban and rural markets in India presents a tremendous opportunity for Ascent Solar. TERI is a premier organization focusing on developing a range of technologies that have created new paradigms of development underlining the sustainable use of natural resources, and are proven for their effectiveness and economic viability. Our joint collaboration to develop various solar energy solutions for TERI’s rural electrification projects including its flagship ‘Lighting a Billion Lives’ based on solar technology provides us with a unique opportunity to grow our market share in India. Our light-weight, ruggedized, high power density thin-film CIGS modules enable ease of installation, handling and transport that are an ideal solution for LaBL and other programs like it,” added Ashutosh Misra, SVP of corporate development for Ascent Solar.

TERI’s firm belief is that efficient utilization of energy, sustainable use of natural resources, large-scale adoption of renewable energy technologies and reduction of all forms of waste would move the process of development towards the goal of sustainability. All activities in TERI move from formulating local and national level strategies to suggesting global solutions to critical energy and environment-related issues.

Ascent Solar Technologies Inc. is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, commercial transportation, automotive solutions, space applications, consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment. Additional information can be found at www.ascentsolar.com.

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