Solyndra Adds $238M Contract, Brings Backlog Total to $2B

[kristopher]

Solyndra Adds $238M Contract, Brings Backlog Total to $2B

The CIGS solar company has inked a deal with Umwelt-Sonne-Energie, one of a growing list of buyers in Europe. No update yet on Solyndra's new factory plan.

Solyndra just added one more contract to its already ballooning backlog: The thin-film solar startup has signed a $238 million deal with Umwelt-Sonne-Energie in Germany.

The Fremont, Calif.-based Solyndra now has more than $2 billion in contracts that it plans to deliver over the next several years, the company said Tuesday.

The agreement with Umwelt-Sonne-Energie in Germany would last through 2013.

Solyndra, founded in 2005, began to discuss its technology and product publicly last fall. Instead of a flat-plate panel, the company's module is made up of a series of tubes that contain solar cells. The solar cells make use of copper, indium, gallium and selenium (CIGS) for converting sunlight into electricity.

Solyndra is one of a handful of CIGS companies that have rolled out commercial products. Its target customers are businesses rather than homeowners.

It's not just the unusual design that has garnered Solyndra a lot of the spotlight. It's the combination of the panel design, along with its racking system, that makes it able to shave installation costs for installers...

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