You are on page 1of 7

Lo gin o r Re gist e r

Your cart is empty Sig n up f o r G T M ne wsle t t e rs

FO LLO W:

Search

PRO JECT S MANUFACT URING

UT ILIT Y- SCALE SO LAR

T HIN FILM

MARKET S & PO LICY

SO LAR FINANCE & VC

BO S/INVERT ERS LAT EST UPDAT E: T O DAY 2:33 PM

SO LAR UCILIA WANG : SEPTEMBER 4, 2009

Share

Related Content
10 0 7 11 Dear Steve Chu: Send Us All Yo ur DOE Files o n 170 5. Thanks, Co ngress 0 9 28 11 The Reality o f Chinas Billio ns in So lar Lo ans 0 9 23 11 Update: So larCity and So larStro ng Lo se to a Co ngress With So lyndra Fever 0 9 23 11 Update: So lar Firm Helio Vo lts VC Ro und To taled $8 5M 0 9 23 11 Startup NetCrystal Acquired by So lar Semico nducto r 0 9 22 11 On Our Reading List: Did the Chinese Steal Wind IP, and Where Are the Wo men in IT? 0 9 21 11 So lyndra CEO and CFO Pleading the Fifth: Part 2 0 9 20 11 So lyndra CEO to Take the Fifth: Part 1

Solyndra: Fab 2 Construction Begins


The California CIGS thin-film company breaks ground on its second factory complex, which will be partly financed by the federal $535 million loan.

There were sho vels and dirt. Go v. Schwarzenegger and Energy Secretary Steve Chu. And a pre-Labo r Day fanfare to make the po int that a hefty investment o f public mo ney in a startup so lar panel co mpany will create jo bs and mo re jo bs. So lyndra held a gro und-breaking ceremo ny Friday mo rning fo r its seco nd facto ry (Fab 2) co mplex less than a mile fro m its headquarters in Fremo nt, Calif.

PDFmyURL.com

The co mpany has garnered a lo t o f attentio n no t o nly fo r its unusual so lar panel design, but also fo r being the first co mpany to receive a U.S. Department o f Energy Lo an guarantee funded by the American Reco very and Reinvestment Act. "If yo u build a better so lar panel, then the wo rld will beat a path to yo ur do o r," Chu said. In fact, the lo an guarantee is the first fro m the DOE since the 19 8 0 s, said Chu o n stage. Chu first anno unced the $535 millio n lo an guarantee in March this year, but it wasn't until recently that the DOE and So lyndra finalized the details o f the financial arrangement. With this financial help, the Obama administratio n is casting So lyndra as a ro le mo del fo r its effo rts to pump up the eco no my. Every speaker at the gro und breaking ceremo ny, including Vice President Jo e Biden, who spo ke via satellite, talked abo ut same two things: jo bs and clean energy. The facto ry co nstructio n sho uld generate jo bs fo r abo ut 3,0 0 0 peo ple. The facto ry itself will pro vide o ver 1,0 0 0 jo bs, the co mpany said. Schwarzenegger o ffered this zinger: "We are here to say, 'Hasta la vista, glo bal warming!' " With the lo an guarantee, So lyndra is bo rro wing the mo ney fro m the U.S. Treasury's Federal Financing Bank. The co mpany also raised $19 8 millio n in an equity ro und led by Argo naut Private Equity fo r building Fab 2, So lyndra said Friday. Fab 2 wo uld be large eno ugh to eventually acco mmo date an annual pro ductio n capacity o f 50 0 megawatts o f panels. Building this facto ry is crucial fo r So lydra to deliver o n ro ughly $ 2 billio n wo rt h o f co nt ract s to custo mers in the United States and Euro pe. Its custo mers include Gecko Lo gic, Pho enix So lar and Carlisle Energy Services. "We are agents o f change," said So lyndra CEO Chris Gro net during his turn at the po dium. "We'll make a difference o ne cell at a time, o ne mo dule at a time, o ne gigawatt at a time." The co mpany, fo unded in 20 0 5, began co mmercial pro ductio n last summer. Its first facto ry co mplex has equipment to pro duce 20 0 megawatts o f so lar panels. So lyndra's so lar panel design has attracted bo th fascinatio n and skepticism. Instead o f a flat surface like a co nventio nal so lar panel, So lyndra's invo lves a series o f so lar-cell filled tubes lying side by side inside an aluminum frame. The cylindrical design enables so lar cells to capture diffused and reflected light, the co mpany

0 9 19 11 Helio Vo lt Gets $50 M Fro m Ko rean Giant SK Inno vatio n 0 9 18 11 Intel Inside, Jo seph Laia Outside at CIGS PV Firm MiaSo l?

Most Popular
Art icles
Suntech, First So lar Sto cks at Histo ric Lo ws 10 0 4 11 East Co ast SREC Prices Hit New Lo ws 10 0 4 11 Astro Watt Speaks Abo ut Its Ultra Thin Silico n So lar Cells 10 0 3 11 Zep Finds Its Gro o ve With an Inno vative Mo unting System

Discussions
To p 10 Reaso ns Why Renewable Energy Wins 0 9 28 11 135 Jo nathan Silver Out at DOE Lo an Pro gram 10 0 6 11 72 Almo st $5B in DOE Lo ans: Antelo pe Valley, Desert Sunlight, CVSR Funded, So ld; Pro lo gis Funded 0 9 30 11 38
PDFmyURL.com

said. So lyndra, which also has designed a lo w-pro file rack to ho ld the panels, is targeting the co mmercial ro o fto p market. The panel-and-rack design shave s labo r t im e and co st s , the co mpany said. The so lar cells use a co mpo und o f co pper, indium, gallium and selenium (CIGS) fo r co nverting sunlight into electricity. The use o f these materials also is fairly new fo r the market, which is do minated by cells made with silico n. Its fello w CIGS co mpanies include Nano so lar, Miaso le and Helio vo lt. But no ne has garnered the spo tlight o r anno unced the huge co ntracts like So lyndra has. Incidentally, Nano so lar also is po ised to make so me big anno uncement next week. The San Jo se, Calif., startup t o o k do wn it s we bsit e earlier this week.

fo r PV Mo dules 10 0 5 11 Patent Co urt: Westingho use So lar vs. Zep So lar, Canadian So lar 10 0 6 11

The Reality o f China's Billio ns in So lar Lo ans 0 9 28 11 38 Elegant On-Site So lar Po wer Fro m Zero Base 0 9 27 11 30

Gov. Schwarzenegger and Energy Secretary Steve Chu break ground with Solyndra execs.

PDFmyURL.com

PDFmyURL.com

Pictured above: Chris Gronet, CEO of Solyndra (left), Energy Secretary Chu (middle), and Ben Bierman, VP of global operations at Solyndra (right).

PDFmyURL.com

Solyndra executives take Energy Secretary Chu on a factory tour.

0 Comments
Dis p lay Name c o mme nts . Ente r yo ur c o mme nt he re . Email (ne ve r d is p laye d ) No tify me o f fo llo w-up

Ne e d an avatar? G e t o ne he re : Gravat ar

CO NT ENT S Ne ws Pe rs p e c tive s Re s e arc h & Analys is Multime d ia G TM Up d ate Cle ante c h Inve s ting Blo g Re s o urc e Ce nte r

SO LAR Pro je c ts Utility-Sc ale So lar Thin Film Marke ts & Po lic y So lar Financ e & VC BO S/Inve rte rs Manufac turing

SMART GRID Ne two rk Infras truc ture /AMI G rid O p timiz atio n HAN & Build ing Auto matio n De mand Re s p o ns e EV Inte g ratio n G rid Sto rag e So ftware & Ap p lic atio ns

ENT ERPRISE Carb o n Manag e me nt Ene rg y Effic ie nc y G re e n IT G re e n Build ing Co rp o rate Sus tainab ility G re e n Sup p ly Chain

O T HER T O PICS Bio fue ls Wind Batte rie s & Sto rag e Trans p o rtatio n Air & Wate r Financ e & VC Po lic y O the r Ene rg y

EVENT S & WEBINARS Co nfe re nc e s We b inars Arc hive d We b inars Pas t Eve nts

MARKET RESEARCH Marke t Re p o rts PVNe ws Smart G rid Sub s c rip tio n SEIA/G TM So larIns ig ht Analys t Te am Bio s G TM Re s e arc h Inq uirie s

SPO NSO RS

Ab o ut G re e nte c h Me d ia

Ad ve rtis e With Us

Co ntac t Us

Ed ito rial Po lic y

Privac y Po lic y

RSS Fe e d s

Te rms O f Us e

Co p yr i g h t 2 0 11 G r e e n te ch Me d i a , In c. Al l

PDFmyURL.com

r i g h ts r e s e r ve d .

P o we r e d b y Exp r e s s i o n En g i n e ( Ve c to r Me d ia ) , De s i g n e d b y //Ave c

PDFmyURL.com