Singulus Technologies can now feel secure over its deal with a subsidiary of China National Building Materials (CNBM), as it has signed the legally-binding contracts for delivery of its CIGS thin-film PV module production machines. The German PV production equipment manufacturer signed the precontracts just last week, for what is the largest deal in the companys history.
The deal, worth in excess of EUR110 million (USD123 million), is with a subsidiary of Chinese state-owned enterprise CNBM, with finalization of the projects financing also expected soon. This contract for the delivery of the key technologies, which are used in the manufacturing of CIGS solar modules, is of essential importance for us and confirms our leading position in this market commented Singulus Technologies CEO Stefan Rinck after the signing of the precontracts.
The various machines will be delivered to two different production sites for high-performance CIGS solar modules, in China. They will initially be able to provide an output volume of around 150 MW at the respective sites.
This comes as good news for the company, which posted disappointing first quarter results in 2016, but look to be getting back on track. It said that it will now review the impact that this deal will have on previously published forecasts for the financial figures for 2016 and 2017, and release the necessary information if it there is a significant change.