Nanosolar Signs Supply Agreements with Strategic Customers

Nanosolar, Inc. announced that it has signed long-term supply agreements for up to one gigawatt of Nanosolar Utility Panel supply with Belectric of Kolitzheim, Germany; EDF Energies Nouvelles of Paris, France; and Plain Energy of Munich, Germany.

As several of the largest and most experienced installers of thin film panels in Europe, these long-term strategic Nanosolar partners will utilize the cost-efficient Nanosolar Utility Panel to expand their solar power plant developments. Each of the supply agreements ranges from a three- to six-year term, and in total may account for up to one gigawatt of committed module deliveries as Nanosolar achieves its volume and cost targets. Each of the three companies has worked closely with Nanosolar as a strategic partner since 2008.

“Nanosolar’s commitment to quality, customer relationships, and targeting one of the world’s lowest cost solar panels makes it an ideal partner to help us tap into the world’s fastest growing renewable energy markets,” said David Corchia, CEO EDF Energies Nouvelles. “Through this partnership with Nanosolar, we look forward to achieving a very competitive levelized cost of energy for our solar installations.”

Nanosolar combines proprietary technology with advanced system design and manufacturing processes to reduce both panel and balance of system costs. Leveraging its competitive CIGS solar cell and panel efficiencies in combination with proprietary printing techniques, Nanosolar can become the lowest-cost panel manufacturer at hundreds of megawatts of production versus gigawatts within the next several years.

Nanosolar’s roll-to-roll printing process allows the company to benefit from the combination of low capital expenditure and high throughput, which results in an extremely low fixed-cost portion of the production cost per watt. This when combined with a panel design that uses less overall materials for production and installation will enable the company to surpass the $.60 per watt cost threshold within the next several years. Nanosolar will reach an annual production capacity of 115 megawatts by fall 2011, and expects to at least double capacity each year thereafter.

“Nanosolar’s industrial printing approach to manufacturing its utility-scale panel combined with its lower balance-of-systems costs will allow solar to be cost competitive with fossil fuels,” said Bernhard Beck, CEO of Belectric. “We look forward to combining Belectric’s state-of-the-art, low-cost installation methods with the Nanosolar Utility Panel to further drive down the cost of solar power plants.”

“Nanosolar takes great pride in its commitment to working closely, effectively and in complete collaboration with strategic partners,” said Geoff Tate, CEO of Nanosolar. “We are honored to sign long-term agreements with three of the world’s leading thin film solar power plant developers, and consider it a validation of our pledge to enable them to better compete within global energy markets.”