SunEdison, Fox Energy sign solar module manufacturing services agreement
Thursday, Apr 25, 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 Energy to produce our Silvantis™ 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."
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 visit www.sunedison.com. SunEdison is a subsidiary of MEMC Electronic Materials, Inc. (NYSE: WFR).