SunEdison, Fox Energy Sign Solar Module Manufacturing Services Agreement
BELMONT, Calif., April 23, 2013
BELMONT, Calif., April 23, 2013 /PRNewswire/ -- SunEdison, a leading global
solar energy services provider and a subsidiary of MEMC Electronic Materials,
Inc. (NYSE: WFR), announced today that its affiliate, MEMC Singapore, entered
into a photovoltaic module manufacturing services agreement with Fox Energy,
the photovoltaic solar business subsidiary of Foxconn Technology, whereby Fox
Energy will manufacture up to 350 megawatts (MW) of solar modules for
SunEdison. The modules will be produced in a manufacturing facility located
in Juarez, Mexico.
The agreement is part of SunEdison's virtual vertically integrated business
strategy leveraging the manufacturing expertise of partners like Fox Energy
and enabling SunEdison to bring high quality solar modules to market while
continuing to reduce levelized cost of energy (LCOE).
"We're thrilled to partner with Fox Energyto produce ourSilvantis™family of
solar modules," said Gokul Krishnan, general manager of SunEdison's solar
module business unit. "Fox Energy's global footprint allows SunEdison to
manufacture modules near our high growth end-markets which helps us keep costs
down while meeting local content requirements."
As of December 31, 2012, SunEdison had interconnected over 989 MW of solar
energy and had a pipeline of 2.6 GW. This relationship with Fox Energy will
assist SunEdison in its global expansion.
"SunEdison's collaborative photovoltaic module supply agreement demonstrates
our customer's recognition of Fox Energy quality, continuous technological
enhancements and best-in-class after-sales services," said Dr. Jeffrey Lu,
President of Fox Energy Inc. "Our automated PV module manufacturing process
and stringent quality controls will help SunEdison meet the high standards
their customers have come to expect."
The relationship between Fox Energy and SunEdison was facilitated in
conjunction with the Borderplex Alliance, a bi-national economic alliance.
"This is proof positive that our bi-national region combines the best of what
the U.S. and Mexico have to offer: World class manufacturing and technological
innovation," said Rolando Pablos, Chief Executive Officer of The Borderplex
Alliance. "We take pride in the fact that these two globally-recognized
companies have chosen our region to launch this new venture. This announcement
is foundational; it may very well prove to be the tipping point to our
regional goal of becoming the solar energy development capital of North
Silvantis Solar Modules
Silvantis solar modules are designed to reduce LCOE for solar installations.
The recently announced Silvantis F330 is a high-efficiency module that
significantly reduces BOS costs versus multi-crystalline with leading edge
technology. Additionally the Silvantis Solar Modules have attained a 1000V UL
rating which allows more modules to be wired together in each string resulting
in significant inverter cost savings. With fewer combiner boxes and wiring
home-runs are needed due to industry leading high wattage, Silvantis is
reducing balance-of-systems (BOS) costs for large-scale installations.
SunEdison is a global leader in delivering solar power. The company develops,
finances, installs and operates distributed power plants using proven
photovoltaic technologies, delivering fully managed, predictably priced solar
energy services for its commercial, government and utility customers. As of
December 31, 2012, SunEdison had interconnected over 989 Megawatts of solar
electricity throughout the world. For more information about SunEdison please
visitwww.sunedison.com. SunEdison is a subsidiary of MEMC Electronic
Materials, Inc. (NYSE: WFR).
About Fox Energy Inc.
Fox EnergyInc. isthe photovoltaic solar business subsidiary of Foxconn
Technology, a newly-emerging vigorous solar company focusing on gigawatt scale
module manufacturing. The company is targeting in providing integrated solar
power plant system hardwares to deliver an economically attractive total
solution to its customers. For further inquiries, please send contactmail
About Borderplex Alliance
The Borderplex Alliance is a bi-national metro area of more than 2.7 million
people, encompassing three states and two nations -- offering a globally
competitive business environment. Led by the private sector, the primary
mission of the Borderplex Alliance is to develop a world class regional
economy thru advocacy of pro-development policy, attracting new jobs and
foreign direct investment, and by assisting the expansion of the region's
existing business/industry base.
Certain matters discussed in this press release are forward-looking
statements, including that Fox Energy will manufacture up to 350 megawatts
(MW) of solar modules for SunEdison. Such statements involve certain risks
and uncertainties that could cause actual results to differ materially from
those in the forward-looking statements. Potential risks and uncertainties
include normal commissioning risks attendant to large scale solar projects,
delays or interruptions in construction, deployment or activation of the
facility; the timely availability of required permits and authorizations for
projects from governmental entities and third parties; changes in applicable
regulatory requirements and incentives for production of solar power; and
general business and economic conditions, and other risks described in MEMC's
filings with the United States Securities and Exchange Commission. These
forward-looking statements represent MEMC's judgment as of the date of this
press release. MEMC disclaims, however, any intent or obligation to update
these forward-looking statements.
Contact: Dawn Brister, SunEdison, email@example.com, +1 (407) 414-0526
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