Solyndra Backlog for PV Tubes Peaks at $2bn
Solyndra Solar Panels
Solyndra, a startup that makes thin-film photovoltaic cells, (PV) has secured a $238 million contract over three years with German solar power company Umwelt-Sonne-Energie.
Solyndra now has about $2 billion in backlog orders, which it plans to deliver over the next few years. It has been a fast rise for the Fremont, Calif., startup, which was founded in 2005 and only began actively marketing its technology last fall.
Solyndra has developed tube-like solar cells that make use of copper, indium, gallium and selenium (CIGS) for converting sunlight into electricity. The innovative design and its cheap installation costs have likely been convincing arguments for buyers.
PV in general is expected to boost sales as technology improvements have made this once expensive power generation tool more affordable and reliable.
