14 July 2011

ABEL signs long-term deal to buy Abound’s CdTe PV modules

Cadmium telluride (CdTe) thin-film photovoltaic (PV) solar module maker Abound Solar Inc of Loveland, CO, USA has agreed to a long-term purchase agreement with ABEL ReTec GmbH of Engelsberg, Germany, a developer of turnkey renewable energy projects with experience in the technical planning and development of large-scale solar installations and MegaWatt-scale bio-gas plants. The agreement has been initiated with the sale of 1.2MW of AB1-series modules (shipped in second-quarter 2011).

ABEL ReTec forms one of three core businesses of the 100-year old company Abel Group. Since 2002, Abel has specialized in developing, installing and operating photovoltaic and bio-gas projects. The firm offers project development services, including financial consulting, engineering and assembly of turnkey systems and full operations management.

“After having successfully tested Abound Solar modules on rooftop installations, we selected Abound Solar for a long-term module supply agreement to gain a strong partner for developing solar projects,” says ABEL ReTec's Roland Huber. “Abound Solar’s cadmium telluride modules are our first choice for free field installations; they provide outstanding performance and enable us to deliver reliable solutions at low cost,” he adds.

The agreement is the most recent in a series of customer and partner milestones for Abound Solar, which earlier this year announced 5.4MW of projects with juwi solar in Jatzke, Germany, and a partnership with Solar Integration Systems India Pvt Ltd (Solarsis) of Hyderabad, giving it entry into India’s fast-growing solar market. In December, the firm announced a $400m loan guarantee from the US Department of Energy, as well as a $110m round of equity investment to expand manufacturing capacity. Plans are currently underway to construct the largest photovoltaic module manufacturing plant in the USA in the state of Indiana.

“This deal demonstrates Abound Solar’s continued ability to sell solar modules in a highly competitive market, such as Germany, and builds on our track record in expanding our exports and adding jobs,” comments Abound’s CEO Tom Tiller. “As Abound Solar continues to sign contracts with top-tier customers and as our modules continue to be used in large-scale projects, we can reaffirm our status as an emerging global player.”

Tags: Abound Solar CdTe thin-film PV

Visit: www.abound.com

Visit: www.abel-retec.de