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Electronics Production |
Vikram Solar and Cencorp consider cooperation
Vikram Solar Pvt, Ltd and Cencorp Corporation have started to review collaboration opportunities for using Cencorp's MWT (Metal Wrap Through) technology for photovoltaic modules in Vikram Solar's solar energy projects.
The parties have signed a Term Sheet on collaboration on 7 February 2014. As agreed in the Term Sheet consideration of collaboration options shall take max. six months. During that time the parties negotiate both business opportunities in photovoltaic module business and opportunities for ownership arrangements between the companies. The negotiations for business and partnership collaboration between the parties, including detailed terms, are still under negotiations, thus it is not yet certain that the transactions will be materialized. Further, realization of the transactions defined in the non-binding Term Sheet is subject to several issues such as due diligence and especially to Cencorp's short and long term financing. Therefore, Cencorp is not yet able to estimate possible realization and effective date of the transactions, the transactions' influence in Cencorp nor risks relating to them. Cencorp will announce further information as soon as the negotiations have been finished. ----- Note: MWT technology refers to Conductive Back Sheet (CBS) based module structure.