Akeena Solar Named Exclusive Solar Panel Supplier For MS Solar Solutions

Akeena Solar says it will be the exclusive solar panel supplier for two years to MS Solar Solutions Corp. (MSSS), a subsidiary of Morgan Stanley's Commodities group, for projects resulting from MSSS' efforts to outfit low-income households nationwide with Akeena's proprietary Andalay AC solar panels.

MSSS will also have the option to purchase Andalay AC panels for its sales efforts to large-tract home builders. As part of the agreement, Akeena Solar has granted a royalty-bearing limited U.S. license to MSSS for the manufacture and sale of Andalay AC panels.

Akeena Solar will provide its Andalay AC panels to MSSS for the low-income market, and in turn, MSSS will buy all of its solar panel requirements for projects related to low-income housing from Akeena. MSSS will partner with governmental and local community groups to install the Andalay AC panels on low-income properties to provide solar-generated electricity to low-income families.

The agreement terms also provide MSSS with the option to purchase Andalay AC panels from Akeena or from Akeena's manufacturers, with Akeena Solar receiving a royalty payment. Their first project is scheduled to begin construction in California in April.

SOURCES: Akeena Solar, Morgan Stanley


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