MANHASSET, NY Nano Solar Technology Ltd. has ordered Oerlikon Solar's 120 MW end-to-end Micromorph production line for making thin film solar modules.
NST, a joint venture between two Russian entities Renova Group and the government-backed Russian Corporation of Nanotechnologies (Rusnano) , envisages production capacity of one million solar modules annually.
Oerlikon and Rusnano signed an agreement earlier to develop photovoltaic technologies.
The Oerlikon equipment will be delivered in 2010 to a site currently under construction in Novocheboksarsk (Chuvash Republic). The start of production is scheduled for 2011. The order also encompasses a comprehensive multi-year service agreement, provided by Oerlikon Solar's global customer support team.
"This is a win-win situation for all parties involved. Oerlikon Solar can establish a strong presence in the Russian market and the Russian economy has made another step as a state-of-the-art production site", said Yaroslav Kuznetsov, CEO of NST, in a statement.
Establishing production of thin film solar modules in the Chuvash Republic is part of Rusnano's strategy to develop the high tech economy in Russia by co-investing in nanotechnology industry projects.
In addition to the planned production line from Oerlikon, Rusnano plans to set up a major research center that will focus on increasing the effectiveness of the solar modules in cooperation with the Ioffe Physical Technical Institute of the Russian Academy of Sciences.
"Russia and the Commonwealth of Independent States offer great market potential for Oerlikon in the medium and long-term", said Oerlikon CEO Uwe Krueger. "We clearly see improving market conditions for the solar PV industry at mid-year showing a mid- to long-term growth trend in demand for overall renewable energy and especially for solar PV applications."