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China and Germany in 500 MW solar deal

Five year agreement will see China firm develop PV projects in Germany

The deal will see China supply 500 MW of PV modules to Germany for five years
The deal will see China supply 500 MW of PV modules to Germany over five years

A China solar firm has signed a 500 MW solar deal to supply PV technology to Germany. Chinese module producer Phono Solar has signed the purchase agreement for 500 MW, equivalent to EUR 300m, with SYBAC Solar AG, one of Germany’s leading providers of large-scale PV solar systems.

The strategic agreement between the two and will see Phono, one of the world’s largest producers of quality monocrystalline and polycrystalline silicon solar modules, supply 500 MW of modules to Sybac, over a five-year period. Sybac is an EPC specialising in utility-scale installations and large commercial rooftops. Sybac intends to develop solar photovoltaic projects primarily in Germany under the agreement.

Cai Jibo, president of Phono Solar, travelled this week to Hannover Messe to sign the 5-year supply agreement. He travelled with a Chinese delegation led by Wen Jiabao, the Premier of the State Council of the People's Republic of China. China is the featured partner country for Hannover Messe 2012.
 
Roland Menken, Vice President of Phono Solar, said: “This agreement gives a clear signal to the German PV market that despite insolvencies last month and continued uncertainty surrounding the future, there are still strong companies like SYBAC Solar AG, who, when partnered with strong suppliers such as Phono Solar, are able to develop their business successfully.”
 
The official signing ceremony took place yesterday at Hannover Messe, one of the world’s most important technology events, which focuses on current trends and new solutions in sustainable development.
 
The SYBAC Solar AG Group has designed, developed, financed, built and commissioned over 130MW of solar systems around the world and selected Phono Solar based on the efficiency of its modules.