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Portuguese investors buy Qimonda solar stake

Posted: 12 Jun 2009 ?? ?Print Version ?Bookmark and Share

Keywords:solar cells? Qimonda asset? joint venture?

A group of Portuguese investors has agreed to acquire Qimonda AG's assets in its solar technology joint venture Itarion in Portugal.

According to a press release of Centrosolar AG, the insolvent DRAM manufacturer's partner in the joint venture, negotiations with an investor group have been concluded successfully, paving the way for the completion of the Itarion installations in Northern Portugal.

The investor group includes energy provider Energias de Portugal (EdP), state-owned venture capital company Inovcapital, infrastructure operator Grupo Visabeira, project handler DST Renov�veis and three banks. The consortium will own 51 percent of the solar technology company.

Centrosolar welcomes the breakthrough, calling the consortium a reliable partner with excellent contacts to the Iberian markets.

With the financial support of the group, the construction works for the manufacturing line launched by Qimonda and Centrosolar can be completed. Production is scheduled to launch in Q1 10. Centrosolar will procure about one third of its solar cells through Itarion. In addition, the Munich-based solar system integrator hopes to be able to cushion cyclical market variations using the Itarion production capacity.

- Christoph Hammerschmidt
EE Times Europe

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