Solar Thin Films Inc., a supplier of manufacturing equipment for the production of thin-film amorphous silicon photovoltaic modules, has received $3.6 million from Grupo Unisolar SA against a $12.3 million contract to build a 5 MW turnkey manufacturing plant in Spain. With this 30% deposit, Solar Thin Films has moved beyond the planning stage and has begun to fulfill the contract.
Delivery and installation is expected to commence in late 2008 and be completed during 2009. Solar Thin Films will receive an additional 50% of the $12.3 million dollar purchase price upon delivery of the equipment throughout 2009, and the remaining 20% upon completion and acceptance.
SOURCE: Solar Thin Films