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South Korean firm places $28M order for solar cell receivers

Posted: 07 May 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Emcore ES System? solar cell? receivers?

Emcore Corp. a provider of semiconductor-based components and subsystems for the broadband, fiber-optic, satellite and terrestrial solar power markets has entered into a $28 million definitive supply agreement with ES System for solar cell receivers to be fielded in fully licensed and funded solar farms in South Korea. This agreement incorporates an advance deposit to ensure production priority and enables the installation of 70MW of solar farms. Production for this order has commenced and shipments are scheduled to occur over the next 24 months with the provisions for accelerated deliveries as well as future purchase options under the same terms.

The South Korean Government has recently announced an increase of the total installed capacity target from 100-500MW while maintaining the solar power feed-in tariff at 677 Korean won per kw-hr for systems deployed by Sept. 30, 2008. This policy has stimulated the acceleration of solar farm installation in South Korea.

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