Singulus wins EUR-110m Chinese order for CIGS machinery
Image by Singulus Technologies AG. Source: http://www.singulus.com.
German machinery maker Singulus Technologies AG (ETR:SNG) on Monday unveiled an over-EUR-110-million (USD 123m) order for the delivery of CIGS thin‑film module production equipment in China.
Under two letters of intent (LOI) with a unit of state-owned firm China National Building Materials Company (HKG:3323), or CNBM, Singulus will supply machinery for two copper indium gallium (di)selenide (CIGS) solar module factories. The plants in China will have an output volume of about 150 MW. Following a planned expansion, each site will reach a capacity of 300 MW.
The two LOIs will be followed by six contracts, expected to be signed in the following days at the SNEC 2016 event in Shanghai. The deals need to be approved by Singulus’ boards, the German firm said.
Singulus is currently working on its balance sheet restructuring, aiming to avoid insolvency. If necessary, the photovoltaic (PV) machinery maker said it will adjust its financial outlook for 2016 and 2017 to reflect the effect of the delivery contracts.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.