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Hyderabad, Aug. 25 Titan Energy Systems Ltd has entered into a $480-million, long term supply agreement (up to 2013) with US-based Suniva.

Suniva Inc, a manufacturer of crystalline silicon solar cells, would supply these cells to be used by the Hyderabad-based Titan Energy, a manufacturer of solar modules and photovoltaics (PV) in its product lines.

“Suniva’s optimised solar cells fit well with Titan’s high-efficiency module application platform, and this agreement allows us to diversify our quality supply chain,” said Mr Rao S.Y.S. Chodagam, Managing Director of Titan, in a press release.

Suniva is scheduled to begin shipments from its first 32 MW line in Atlanta during the fourth quarter of this year. The facility will add more than 130 MW of additional capacity over the next two years to meet demand from Titan, Solon AG and other customers, the release said.

“As Suniva expands its international presence in Europe and Asia, we are happy to establish this relationship with Titan, one of the world’s highest quality solar module manufacturers,” Suniva CEO, Mr John Baumstark, said.

Titan Energy has been in the solar business for the past 16 years and primarily sells its products in Europe and the US.

It also exports to Africa, South-East Asia and Australia, the release added.

Titan’s manufacturing centre is located in Hyderabad.

It has an installed moduling capacity of 50 MW and is currently expanding to 100 MW by end of 2008.

More Stories on : Alliances & Joint Ventures | Power | Overseas Investments

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