SolarPower Restoration Systems Inc., a developer of building and roofing integrated photovoltaic application technologies, has signed a non-binding letter of intent for a three-year supply agreement with SBM Solar Inc.
Under the letter of intent, SolarPower Restoration Systems plans to purchase from SBM Solar Inc. a minimum of 10 MW of PV modules per annum from 2009 through 2011. The SBM modules will be delivered according to SolarPower Restoration Systems specifications for a new polymer surfaced composite panel crystalline module design by SBM Solar for SolarPower's SolarSeal Technologies' licensed partners' rapidly growing system requirements.
This supply agreement is an outgrowth of the strategic alliance formed earlier this year by both companies to develop and manufacture new photovoltaic systems for the commercial roofing and wall industries.
Both companies plan to expand their cooperation to further speed the development and deployment of highly efficient and low-cost non-glass, polymer-surfaced crystalline PV solar modules for roofing and building-integrated solar systems.
SOURCE: SolarPower Restoration Systems