Singulus gets prepayment notification from CNBM for CIGS equipment

The saga over Singulus Technologies’ sale of its CIGS module equipment to CNBM looks like it may finally reach its conclusion, as CNBM sends the German company prepayment. The signing of the contracts was delayed earlier in the year, forcing Singulus to revise its financial forecasts for 2016 and 2017.

However, news coming out of Singulus today is that it has received an announcement that prepayment has been made, and it should be fully received within the next couple of days. The deal is for €110 worth of CIGS module production equipment.

The various machines will be delivered to two different production sites for high-performance CIGS solar modules. They will initially be able to provide an output volume of around 150 MW at the respective sites.

The signing of the contracts, which took place at the end of May, was delayed, which meant that parts of the sale were also pushed back, causing some people to doubt the deal would actually be completed. However, with the sending of prepayment, it looks as if any fears have been alleviated.