The agreement, which runs for 5 years, envisages a volume of initially 100 MWp per year. More extensive cooperation in the areas of product development and process engineering is also planned.

CENTROSOLAR will be creating the capacity required for this agreement in a new production building on a site adjacent to the existing plant in Wismar, Germany.

CENTROSOLAR sees the signing of this agreement as confirmation of its status as one of the most efficient and above all highest-quality manufacturers of solar modules. This also demonstrates that it is possible to keep manufacturing premium modules in Germany on a long-term competitive basis.

The first deliveries under the agreement are due in the third quarter of 2011. The solar cells to be used will be supplied by TSMC itself; CENTROSOLAR will be responsible for transforming the cells into 60-cell quality modules.

As well as the manufacturing agreement, which gives CENTROSOLAR an extra source of revenue and income and enables it to realise economies of scale, CENTROSOLAR and TSMC are planning further-reaching technical cooperation.

Their partnership is to focus on the development of improved module designs andthe implementation of optimised production processes while maintaining the high standards of quality.

The increased capacity needed both as a result of this agreement and the continuing healthy performance of CENTROSOLAR's core business will be created by further expanding the production facility in Wismar, Germany.

The construction of a new production hall and warehouse will create space for upping the existing capacity from currently 200 MWp to up to 500 MWp per year in line with demand. This will equip the company for further growth from both its own business and from contract manufacturing.

The first phase, which is to be completed by the third quarter, involves completing the new building with an extra 150 MWp of manufacturing capacity. The number of jobs at Wismar will then rise by around 300 to roughly 700. The investment volume for the first phase amounts to around EUR 20 million. It will be financed from the company's own cash flow as well as through subsidies and bank loans.

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