$1.8B backlog for Solyndra with new German deal

Fremont, Calif.-based solar cylinder developer Solyndra said today it signed a $115 million supply deal with Zapfendorf, Germany-based solar integrator EBITSCHenergietechnik.

The deal brings Solyndra's order backlog to $1.8 billion, including $189 million with Amsterdam-based solar integrator SunConnex, $250 million with German solar integrator GeckoLogic, and $320 million with commercial roofing manufacturer Carlisle Construction Materials (see Solyndra inks $320M deal with roofing maker Carlisle).

Solyndra developed long cylinders coated in thin-film material inside glass tubes, which line up inside aluminum frames (see Solyndra reveals thin-film solar tubes).

See Solyndra's technology here >>

Solyndra says the tubes allow the copper-indium-gallium-selenium (CIGS) material to capture optimal sunlight for a longer period than traditional flat panels. Solyndra’s 180-watt-peak panels—each made up of 40 cylinders in a one-meter by two-meter aluminum frame—have an efficiency of 12 percent to 14 percent, the company says.

The supply deal with EBITSCHenergietechnik is planned through 2013. Solyndra plans to manufacture the CIGS tubes in Fremont and Milpitas, Calif.

The company operates a 300,000 square-foot facility in Fremont with a capacity of 110 megawatts but has plans to build a 500 MW plant in neighboring Milpitas. In March, the U.S. Department of Energy offered Solyndra a $535 million loan guarantee, which is expected to cover 73 percent of the cost of the project, estimated at $733 million, Solyndra said (see Solyndra nabs $535M DOE loan guarantee for 500 MW factory). If Solyndra secures the additional funds, the plant could begin operations in 2010.

Solyndra says the deal strengthens its position in Germany and Europe.  EBITSCHenergietechnik designs and installs renewable energy systems, including photovoltaic, solar thermal, and combined heat power.

"The photovoltaics market is fast moving, so it is important to keep your eyes open for new products," said Horst Ebitsch, founder and managing director of EBITSCHenergietechnik, in a news release. "Solyndra’s solution dramatically changes the model for installation of PV systems, expanding the market by addressing large numbers of industrial rooftops which are not economically viable with other PV technologies."

Solyndra has raised $820 million in venture capital backing, and is rumored to have closed on an additional $100 million round.

In the last days of 2008, the company raised $219.2 million from 23 investors, including Argonaut Ventures, U.S. Venture Partners, CMEA Ventures and Redpoint Ventures (see Solyndra closes 2008 with $220M financing round). Solyndra CEO Chris Gronet previously told the Cleantech Group that the company raised $600 million in equity from investors including Virgin Green Fund, Madrone Capital Partners and RockPort Capital Partners.

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