SOLON, ersol sign US$1.37 billion solar cell deal

August 31, 2007

GERMANY: ersol Solar Energy AG and SOLON AG signed a solar cell supply contract worth about US$1.37 billion. Erfurt, Germany-based ersol will supply monocrystalline silicon solar cells to Berlin-based module producer SOLON over a period of 11 years starting in 2009. The agreement proposes that ersol receives down payments from SOLON that will later be offset against the purchase price to be paid.

SOLON intends to use the ersol cells for the manufacture of solar modules, which will subsequently be integrated as modules at solar power plants. Power plants of the type where these modules will be used enable whole cities to be supplied with solar energy.

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