A unit of the Oerlikon industrial group, Oerlikon Solar, has won a major contract to supply a turnkey factory for a new Russian company, Nano Solar Technology (NST).
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The order from NST, which is a joint venture between the Renova Group and the Russian Corporation of Nanotechnologies, is for equipment to produce up to one million solar modules a year.
An Oerlikon Solar statement said it was largest equipment order in the worldwide thin film silicon photovoltaic market this year to date.
The equipment will be delivered in 2010 to a site currently under construction in the Chuvash Republic.
“Russia and the Commonwealth of Independent States offer great market potential for Oerlikon in the medium and long-term,” commented Oerlikon chief executive Uwe Krüger.
Although no financial details of the deal were announced, it is estimated to be more than SFr300 million ($277.3 million) by the Helvea financial research company.
Renova, a holding company founded by Russia’s Viktor Vekselberg, is the majority shareholder of the Oerlikon group.
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