Ascent Solar, TERI, India Sign Memorandum of Understanding

Ascent Solar Technologies, Inc. has entered into a memorandum of understanding (MOU) with The Energy and Resource Institute (TERI) of New Delhi, India.

Under the terms of the MOU, TERI will perform testing and performance evaluation of Ascent Solar high efficiency flexible thin-film CIGS modules and study the feasibility of including Ascent’s modules for TERI’s flagship program “Lighting a Billion Lives” (LaBL) and other projects currently under development at TERI.

Upon successful completion of evaluation of both technical and economical feasibility, TERI and Ascent Solar will mutually discuss and decide on the terms and conditions for the use of Ascent Solar’s modules for the LaBL program and or other projects. TERI and Ascent Solar will also decide on the implementation model to follow once the evaluation phase is complete.

Akanksha Chaurey, director decentralised electricity sSolutions and Lighting a Billion Lives Campaign TERI, said, “Ascent Solar has been one of the forerunners in the development of futuristic technologies in the field of solar photo-voltaic energy. Our collaboration with Ascent Solar will help engage the much needed newer, cutting edge solar photo-voltaic technologies into our ongoing electrification projects for rural applications including solar lighting through our flagship programme Lighting a Billion Lives.”

Ashutosh Misra, SVP of Corporate Development for Ascent Solar, stated, “India is one of the largest off-grid electricity markets in the world and the need for innovative and cost competitive off-grid electricity generation in urban and rural markets in India presents a tremendous opportunity for Ascent Solar. TERI is a premier organization focusing on developing a range of technologies that have created new paradigms of development underlining the sustainable use of natural resources, and are proven for their effectiveness and economic viability. Our joint collaboration to develop various solar energy solutions for TERI’s rural electrification projects including its flagship ‘Lighting a Billion Lives’ based on solar technology provides us with a unique opportunity to grow our market share in India. Our unique, light-weight, ruggedized, high power density thin-film CIGS modules enable ease of installation, handling and transport that are an ideal solution for LaBL and other programs like it.”