Solyndra Seals 16.2-Megawatt Deal with California Utility
Monday, August 2nd 2010 8:25 PM
By GetSolar Staff.
Solyndra, a Fremont, California-based solar panel manufacturer, announced last week that it has entered into a 20-year power purchase agreement with Southern California Edison. Through its wholly-owned subsidiary Photon Solar, Solyndra will supply 16.2 megawatts of energy through 18 California solar rooftop installations.
Solyndra is notable for the form factor of its solar modules, which are cylindrical rather than flat panels.
"Rooftop solar takes advantage of un-utilized space to generate energy right where it is needed, eliminating the need for costly transmission lines and extensive environmental impact testing and permitting," said Corby Whitaker, Solyndra's vice president of North America Sales.
Photon Solar says that it will complete the 18 solar installations by next year. Solyndra's main facility is located in California, meaning that the entire project runs from beginning to end within the state.
Solyndra was in the news recently when it mothballed plans for an initial public offering, instead opting to raise money via debt financing. While its product is technologically compelling, its production costs remain higher than those of competitors, and it's possible that the markets would have punished Solyndra's shares.
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Solyndra, a Fremont, California-based solar panel manufacturer, 
