Singulus receives prepayment for EUR 110m CIGS order from CNBM

Singulus Technologies, the German producer of solar PV manufacturing equipment, has received the first prepayment for a large €110 million ($121 million) CIGS order placed earlier this year by two subsidiaries of China National Building Materials (CNBM).

The Chinese state-backed enterprise signed three contracts each for its two subsidiaries for the delivery of CIGS machines to two CIGS factories currently being built in China. According to Singulus, the construction of the ordered machines is progressing on time, in line with the development of the first factory.

Setup of the second factory is expected to commence early next year, Singulus CEO Stefan Rinck said. “We see ourselves very well positioned in China in the area of thin-film solar technology and here in particular for production equipment for CIGS thin-film modules,” he said.

The two production plants will each take ownership of 150 MW of CIGS production equipment, he company comfirmed.

This large CIGS deal was a timely one for Singulus, which had limped through 2015 on the back of weak orders, generating disappointing first quarter financials for 2016. However, in February the firm received these orders for 300 MW of CIGS equipment, and is eyeing an annual sales volume for 2016 of between €115 million to €130 million.