Spire enters solar line contracts with Uni-CHEM

Spire Corp. announced it has entered into two contracts to supply Uni-CHEM Solar with a 60MW cell line and a 50MWmodule line. The solar equipment provider will also provide the associated utilities and infrastructure support for the two lines. Uni-CHEM Solar is a subsidiary of Uni-CHEM Co. Ltd of South Korea.

Uni-CHEM has indicated its intent to lease space from Spire at its Hudson, New Hampshire facility to house the automated 60MW solar cell line and 50MW PV module line. Terms of the sub-lease are not yet fully defined and currently under negotiation. The Uni-CHEM integrated cell and module lines are planned to become operational in the second half of 2010.

Additionally, Uni-CHEM has agreed it will form a US entity, which will purchase 51 per cent of Spire Solar Systems, Spire's system integration business, subject to definitive documentation. Such definitive agreements have not yet been finalised.

Roger Little, chairman and CEO of Spire, said, "We are excited to have finalised the cell and module turnkey manufacturing agreements with Uni-CHEM. We believe their cell and module manufacturing will position them to participate in the U.S. solar market, which is anticipated to be one of the world's fastest growing. The total value of the contracts, including those relating to the investment in the systems integration business, is approximately $60 million (Rs.291.69 crore)."