Solyndra signs Framework Agreement with Italy's Sun System, $105M
Solyndra, a manufacturer of innovative proprietary photovoltaic (PV) systems for commercial rooftops, announced it has signed a new multi-year framework agreement worth up to $105 million with solar integrator Sun System, based in Milan, Italy. The solar panels for this Euro-based agreement will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.
"Sun System's strong presence in Italy and beyond, coupled with Solyndra's advanced PV systems, will accelerate the deployment of world-class photovoltaic installations on commercial rooftops in southern Europe," said Dr. Chris Gronet, Solyndra's CEO and founder.
Solyndra's cylindrical, thin film PV systems are designed to generate more electricity on an annual basis from typical low-slope commercial rooftops, while providing much lower installation costs than conventional flat panel PV technologies.
"As a company focused on cost, performance and reliability, we are very happy to announce this partnership. Solyndra's technology sets a new standard of performance on commercial rooftops compared to conventional PV technologies in terms of installation cost, rooftop loading, non-penetrating wind performance, and energy production per roof," states Dr. Davide Scarantino, CEO of Sun System. "Solyndra's innovative cylindrical module geometry and fast and easy mounting technology are leading the way toward a clean energy future," added Dr. Domenico Ruggeri, Technical Director of Sun System.