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© Manz Business | January 24, 2017

Manz AG: Orders amounting to EUR 263 million

The bulk orders for two turnkey CIGS production lines totaling 350 MW capacity are "by far the largest orders in the company’s history ever".
Manz AG has entered into a strategic cooperation with Shanghai Electric Group Co., Ltd. and Shenhua Group Co., Ltd. in the field of CIGS thin-film technology. In the course of that, Manz AG received two bulk orders, one for a CIGS production line with a capacity of 306 MW and another one for a CIGS R&D line with 44 MW capacity.

The order for the R&D line has been placed by a newly established R&D Joint Venture, the order for the CIGS turnkey mass production line (CIGSfab) by a newly established module joint venture of affiliated subisidiaries of Shenhua Group and Shanghai Electric. This CIGSfab, which will be the largest CIGS production line in China and the second largest worldwide, will be built in Chongqing. The installation will start in 2017 and will be finished in the following year 2018. Considering the immense potential worldwide this order, however, is considered only as a first step.

The order volume totals EUR 263 million and will affect revenues and earnings during the financial years 2017 and 2018. Due to corresponding down payment agreements, these orders will be realized cash flow positive. Both, the cooperation as well as the orders received, form the basis for a profitable corporate development of Manz AG and prove the technological and cost leadership of CIGS thin-film technology.

Dieter Manz, CEO and founder of Manz AG, is pleased: “This cooperation is absolutely outstanding in the solar industry worldwide. We were always convinced of the superiority and potential of our CIGS thin-film technology since CIGS modules from Manz already offer the lowest electricity generation costs in comparison to the crystalline silicon technology. Today’s agreements mark the breakthrough in our solar business. Our confidence in our excellent engineering know-how will now pay off.”

In order to further commercialize and develop Manz CIGS thin-film technology, the three partners – Shenhua, Shanghai Electric and Manz – agreed combining their strengths in the area of power generation, large-scale equipment manufacturing and world-leading technology. Shenhua Group, the largest coal enterprise in China and the largest coal supplier in the world, teamed up with Shanghai Electric, anchor investor of Manz AG and leading equipment supplier in China for power generation, to cover know-how through the entire value chain of renewable power generation from CIGS solar modules. Manz AG has exclusive access to the world record for CIGS thin-film solar cell efficiency on glass at 22.6% thanks to its longstanding and exclusive collaboration with the Center for Solar Energy and Hydrogen Research of Baden-Wuerttemberg (ZSW). Moreover, Manz already runs one of the largest and most experienced R&D teams in the field of CIGS worldwide at its location in Schwaebisch Hall.

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May 24 2017 9:54 PM V8.2.6-2