Wednesday, June 10, 2009
A group of Portuguese investors has agreed to buy Qimonda's stake in the insolvent DRAM manufacturer's solar technology joint venture Itarion in Portugal.
According to a press release of Centrosolar AG, Qimonda's partner in the joint venture, negotiations with an investor group have been concluded successfully, paving the way for the completion of the Itarion installations in Northern Portugal.
The investor group includes energy provider Energias de Portugal (EdP), state-owned venture capital company Inovcapital, infrastructure operator Grupo Visabeira, project handler DST Renováveis and three banks. The consortium will own 51 percent of the solar technology company.
Centrosolar welcomes the breakthrough, calling the consortium a reliable partner with excellent contacts to the Iberian markets.
With the financial support of the group, the construction works for the manufacturing line launched by Qimonda and Centrosolar can be completed. Production is scheduled to launch in Q1/2010. Centrosolar will procure about one third of its solar cells through Itarion. In addition, the Munich-based solar system integrator hopes to be able to cushion cyclical market variations using the Itarion production capacity.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
