From pv magazine India
“The company is in active discussions regarding the factory’s location,” Laureen Sanderson, chief communications officer for CubicPV, told pv magazine. “Effectively immediately, the five-year agreement – subject to certain terms and conditions and with options for renewal – establishes a commitment for an annual purchase volume of 1 GW of Direct Wafer cells from Cubic’s factory.”
Waaree will begin purchasing cells from CubicPV upon completion of the factory, Sanderson added. The cells will feature wafers made with CubicPV’s transformative Direct Wafer technology, which produces wafers in one step, directly from a molten bath of silicon. The product purportedly delivers the world’s lowest cost of electricity today, while offering a significant reduction in carbon footprint over conventional methods.
“Our Direct Wafer technology is the ideal solution for India’s domestic utility market and Waaree, by choosing this technology over generic methods, is setting the tone for an Indian manufacturing future that makes better use of materials, requires less energy and is defined by high efficiency,” said Frank van Mierlo, CEO of CubicPV. “CubicPV is honored to begin our journey in India with Waaree. The synergy between one of the leading module manufacturers in India and Cubic’s innovation agenda will create value for both companies and the solar industry in India.”
The partnership with CubicPV provides Waaree with a domestic supply line and thus a level of immunity with respect to the logistics challenges and volatile commodity pricing that has defined the import market.
“As an early entrant in the solar industry, Waaree recognizes the value of innovation to our continued leadership position. We believe that CubicPV’s technologies will deliver significant benefit to our customers and to the Indian solar market both immediately and in the long-run. We are proud to bring a module to the market featuring domestically-produced wafers and cells manufactured with a low carbon footprint,” said Hitesh Doshi, chairman and managing director of Waaree.
CubicPV was formed from the merger of US wafer maker 1366 Technologies and Hunt Perovskite Technologies.
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