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Singulus agrees terms of EUR-57m supply contract in China

Signing Ceremony during the Chinese Trade Fair CIIE in Shanghai. Source: Singulus Technologies

November 11 (Renewables Now) - Singulus Technologies AG (ETR:SNG) has agreed with CNBM on the relevant parameters for a CIGS machinery supply contract in China with an expected project volume amounting to EUR 57 million (USD 63m).

On Saturday, the German photovoltaics (PV) production equipment maker and the Chinese state-owned group sealed an agreement on the relevant contractual parameters for the supply of the machinery that will be used as part of the 150-MW first expansion stage of a CIGS solar module factory in the town of Xuzhou. Singulus noted that no legally-binding contracts have been signed yet.

The plant in Xuzhou will be CNBM’s third CIGS production site and will have a total capacity of 300 MW. The Chinese company intends to further expand its factories in the future, according to the announcement.

(EUR 1.0 = USD 1.103)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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