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SolarWorld AG strengthens international group business


Licensing agreement with Chinese partner

SolarWorld AG (ISIN: DE0005108401) is strengthening the international business against the backdrop of the rapidly growing global photovoltaic market. The group entered into an agreement on the under license production of SolarWorld modules in China with the Chinese solar producer Suntech Power Inc. The partner will manufacture solar power modules on behalf of SolarWorld AG with the German solar company providing input materials and technological know-how. The license business will have a volume of some 100 million euro in the next two years and will supplement the group's own module production at the locations in Freiberg and Sweden whose expansion will also advance. The additional SolarWorld modules from China will serve to meet the national and international demand even more comprehensively. "The use of our solar technology know-how to manufacture solar modules in China backs up our strategy of continuous national and international growth," explains Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG. "This engagement also provides us with the opportunity to give SolarWorld AG a promising position in the dynamically growing Chinese energy market and to create additional jobs in Germany via exports."

SolarWorld AG supplies modules for large scale solar project in Spain

In parallel with the broadening of its module manufacturing base the integrated German solar group won a contract for a large scale power station project in Spain, the second largest European solar market. For the Instituto Tecnológico y de Energías Renovables (ITER) on the island of Tenerife SolarWorld AG will supply modules with a total power output of initially 2.1 Megawatt (MW) in the current year. The technology institute of the Canary Island is planning the installation of 150 solar power plants with a total of 15 MW on the island of Tenerife. The ITER project is by far the largest solar power project in Spain. The agreement with ITER makes SolarWorld AG one of the leading providers in the Spanish solar market - a position that SolarWorld AG wants to secure in the long run.

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