News

22 March 2010

 

Ascent Solar inks strategic alliance agreement with India's Kirloskar Integrated Technologies Ltd

Ascent Solar Technologies Inc of Thornton, CO, USA, which manufactures flexible thin-film photovoltaic modules based on copper indium gallium diselenide (CIGS), has signed a strategic alliance agreement with Kirloskar Integrated Technologies Limited of India. The agreement results from an existing collaboration between the two firms under a memorandum of understanding signed in September 2009.

Under the terms of the multi-phase agreement, the two firms will commence integration, marketing and distribution of Ascent Solar's flexible CIGS photovoltaic modules into products designed to address multiple market opportunities in India.

Phase two of the agreement provides for the establishment of a complete backend module assembly plant in India, while the third and final phase is designed to expand production in India to include complete end to end module manufacturing.

L.A. Joshi, CEO of Kirloskar, said: "Having successfully established energy solutions using technologies like anaerobic digestion of organic waste and non-edible vegetable oil and biodiesel, we were in search of appropriate partner for solar photovoltaics which can compliment Kirloskar's strength as a leader in distributed power generation. We are pleased to have Ascent as our partner in the endeavor to harness the very large solar energy potential related to off-grid and on-grid applications, by taking advantage of the favorable policies of the Indian government."

Ascent Solar president and CEO, Farhad Moghadam, said: "Our relationship with Kirloskar provides Ascent Solar with a partner for development of multiple market opportunities in a rapidly advancing country like India. We believe that Kirloskar has significant relationships and well established sales and marketing channels in key target markets for defense, space, consumer electronics and hybrid diesel generators.”

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