Solyndra Lands $105 Million Italian Deal

Dec 1 2009 | 12:17am ET

California-based Solyndra, Inc., a manufacturer of photovoltaic (PV) systems for commercial rooftops, has signed a multi-year framework agreement worth up to $105 million with Italian solar integrator Sun System  S.p.A..

Solar panels for the euro-based agreement will be manufactured at Solyndra’s facilities in Fremont and Milpitas, California, and will be installed on commercial rooftops in southern Europe, according to Solyndra CEO and founder Dr. Chris Gronet.

Solyndra’s cylindrical, thin-film PV systems are designed to generate more electricity on an annual basis from typical, low-slope commercial rooftops, while providing much lower installation costs than conventional flat-panel PV technologies.

Dr. Domenico Ruggeri, Sun System’s technical director, said Solyndra’s technology sets “a new standard of performance” compared to conventional PV technologies in terms of installation cost, rooftop loading, non-penetrating wind performance and per-roof energy production.

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