Nitol Solar delivers initial Polysilicon production volumes to Trina Solar
Trina Solar succeeded in manufacturing monocrystalline solar modules using the Polysilicon.
Per “Nitol Solar Supplies Trina Solar with Initial Deliveries of Polysilicon to Manufacture Solar Modules” released Monday, October 13, 2008, on the eve of Solar Power International 2008:
Trina Solar tested the polysilicon through the entire production process from monocrystalline ingots, wafers and cells to solar modules. The results demonstrated compliance of polysilicon made by Nitol Solar with the modern PV requirements.
Trina Solar Limited (NYSE:TSL) and Nitol Solar Limited entered into a long-term polysilicon supply agreement last year with “Trina Solar Signs Long-Term Supply Agreement with Nitol Group”. Nitol Solar will deliver sufficient Polysilicon in 2009 from their polysilicon plant in Usolie-Sibirskoe, Irkutsk region, Russia, for Trina Solar to produce over 200 MW (MegaWatts) of solar modules.
In this September 2008 Investor Relations Presentation, Trina Solar claims:
- Silicon usage of 7.2 gram/W in 2Q08, and with further reduction going forward
- Reduction of mono and multicrystalline wafer thickness
- Cell conversion rate of up to 17.2% monocrystalline & 16.0% multicrystalline
Not long after my Nitol Solar scores International Finance Corporation Investment post, Nitol Solar secured up to USD $190 million in project financing from the Russian Alfa-Bank for polysilicon production per “The Alfa-Bank will finance the solar industry component production project”.
Suntech Power Holdings Co., Ltd. (NYSE:STP) followed by announcing “Suntech Completes Investment in Nitol Solar. Suntech Successfully Tests Initial Batches of Polysilicon” completing “the final round of its $100 million in aggregate purchase of a minority interest in Nitol Solar”, and Suntech said “it was pleased with the test results from the initial batches of polysilicon that it has received from Nitol.”
Clarifying their ersol Solar Energy AG relationship, a Nitol Solar spokesperson said:
Ersol isn't a customer of Nitol. We did sign the Letter of Intent but we have never entered into the agreement with Ersol.
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