US’ SunEdison, Fox Energy sign solar module manufacturing deal

24 April 2013 03:52  [Source: ICIS news]

SINGAPORE (ICIS)--US firm SunEdison announced late on Tuesday that its affiliate, MEMC Singapore, has entered into a photovoltaic (PV) module manufacturing services agreement with Fox Energy, the photovoltaic solar business subsidiary of Foxconn Technology.

SunEdison is a leading global solar energy services provider and a subsidiary of MEMC Electronic Materials, Inc.

Under the agreement, Fox Energy will manufacture up to 350 megawatts (MW) of solar modules for SunEdison in a facility in Juarez, Mexico, the company said in a statement.

This move is part of SunEdison’s vertically integrated business strategy. As of December 2012, it has interconnected over 989MW of solar energy and had a pipeline of 2.6 gigawatt (GW), it said.

"Fox Energy's global footprint allows SunEdison to manufacture modules near our high growth end-markets which helps us keep costs down while meeting local content requirements," said Gokul Krishnan, general manager of SunEdison's solar module business unit, in the statement.

By: Surinder Malhi
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