Solyndra, Inc. signs sales contract With SunConnex for approximately $189 million

Solyndra has announced it has signed a new long-term sales contract with solar integrator SunConnex B.V., based in Amsterdam. The Euro-based contract is worth up to $189 million and extends through 2013. The SunConnex deal brings Solyndra's announced contractual backlog to nearly $1.7 billion. The solar panels for these contracts will be manufactured at Solyndra's facilities in Fremont and Milpitas, California.



"We are very pleased to announce this relationship with SunConnex. Their expertise in the Benelux region and across Europe should enable exceptional growth in one of the hottest markets for commercial scale solar," said Solyndra founder and CEO Chris Gronet. "We expect that the Solyndra system's ease and speed of installation will enable SunConnex to rapidly and efficiently outfit significantly more commercial rooftops with solar."



Solyndra's thin film PV system is designed to generate significantly more solar electricity on an annual basis from typical low-slope commercial rooftops while uniquely providing much lower installation costs than conventional PV flat panel technologies.



"Our goal is to offer groundbreaking products at reasonable prices. Solyndra's unique design is an excellent fit with this strategy," said Kie Tan, CEO and co-founder of SunConnex. "The Solyndra system enables our customers to generate more kWh of energy from a given rooftop, at industry-leading economics. Plus, the non-penetrating mounting system gives our customers confidence that their roof will never leak.”