Fremont-based Solyndra signs Belgium solar deal
That’s one way to go international: Fremont, Calif.-based solar company Solyndra Inc. has some of its cylindrical photovoltaic systems installed on rooftop sites in Belgium, the company said today.
The project, involving 1.928 megawatt-peak of generation capability on 10 rooftops owned by a large food retailer in 10 cities, was completed in just two months and is the largest project ever for Solyndra.
The power generated will be sold to local utilities.
The company is partnering with German reseller USE Projects, known officially as Umwelt-Sonne-Energie GmbH. Solyndra signed a long-term sales agreement with USE in July worth as much as $238 million through 2013, pushing the California business’ contractual backlog past $2 billion.
Solar panels used through the agreement are manufactured in Fremont and Milpitas.
Solyndra filed documents in December to go public and said it intends to raise $300 million in a public stock offering. The 4-year-old company said it pulls in revenue upward of $174 million and in March received a $535 million loan guarantee from the Department of Energy for a new California manufacturing facility.
-- Tiffany Hsu