SOURCE: Solar Semiconductor

September 26, 2007 07:00 ET

Solar Semiconductor Announces Solar Cell Supply Contract With ersol Solar Energy AG

Both Companies to Attend Solar Power Conference 2007 in Long Beach, CA

SUNNYVALE, CA--(Marketwire - September 26, 2007) - Solar Power Conference 2007 booth #909 -- Solar Semiconductor, a high-quality solar Photovoltaic module producer, today announced it signed a multi-year agreement with ersol Solar Energy AG of Germany for the supply of 156 mm Mono and Multi-Crystalline cells worth approximately $170M USD (after conversion). These solar cells will be used for high-quality module production in Solar Semiconductor's new highly automated Solar PV Module manufacturing plant in Hyderabad, India.

To learn more about Solar Semiconductor and ersol, stop by the ersol booth #909 at Solar Power Conference 2007at the Long Beach Convention Center in Long Beach, California, September 24-27, 2007. http://www.solarpowerconference.com/

"As we move towards thinner solar cells adding this third bus bar technology ensures a stronger connection between cells, lower breakage rates, and better power efficiency. Our automated module line is capable of handling < 180 µm, equating to 3 bus bar cells," said Hari Surapaneni, Chief Executive Officer of Solar Semiconductor. "ersol is a pioneer in manufacturing Mono-crystalline cells with this 3 bus bar technology and we are happy that together with ersol, we can provide our customers the highest efficiency modules possible with outstanding quality."

"We plan to double our current module manufacturing capacity of 50 MW by early 2008 with more rapid expansion planned in the coming 10 to 15 months. We are pleased that ersol will be a key partner in helping us realize our business objectives," added Surapaneni.

"ersol's commitment to leading-edge technology and highest-efficiency solar cells is matched by Solar Semiconductor's desire to offer only high-quality PV modules to its customers," said Dr. Claus Beneking, Chief Executive Officer of ersol Solar Energy AG. "ersol is happy to be associated with the dynamic team of professionals at Solar Semiconductor; and we hope and expect to have a long-term and mutually beneficial partnership. Solar Semiconductor and ersol have ambitious growth plans and we both expect to realize our goals through our shared value of delivering the highest value imaginable to our customers."

About Solar Semiconductor

Solar Semiconductor, an international company established in 2005, offers innovative, high-quality products and services to the global Solar PV module market. Unwavering commitment to customers is at the core of Solar Semiconductor's mission. With a high degree of manufacturing automation and a power and module efficient technology road map enable Solar Semiconductor to address customers' needs well into the future. For more information, visit www.solarsemiconductor.com.

About ersol Solar Energy AG

ersol Solar Energy AG produces and markets high-quality silicon-based photovoltaic products. The Group comprises the divisions Silicon, Wafers, Solar Cells and Modules. With sales of EUR 128 million in financial year 2006, the Thuringia-based company is one of the leading companies in the solar industry. The ersol share is listed since 30 September 2005 on the Prime Standard of the Frankfurt Stock Exchange. Currently the ersol Group has more than 680 employees. For more information, visit www.ersol.de.

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