Asola has successfully secured financing for this expansion, and plans to commission the new facility by fall 2008.
Quantum, which holds a 25% stake in Asola, has initiated discussions related to an expanded partnership. Quantum and Asola have earlier entered into a long-term supply agreement with Ersol Solar Energy for the procurement of 155MW of silicon photovoltaic cells, starting in 2008.
Together with supply contracts with other major suppliers around the world, the Ersol agreement reportedly guarantees a steady supply of solar cells to Quantum and Asola, thereby avoiding any potential future disruptions due to crystalline silicon shortages.
Resulting sales from these supply agreements are anticipated to generate in excess of $600 million for Asola and Quantum.
Reinhard Wecker, Asola’s founder and CEO, said: Our expanded capacity will allow us to serve new and existing customers who are demanding increasing quantities of high quality solar photovoltaic products to ensure reliable electricity production during peak demand hours.
