Wednesday, June 4, 2008

Spire to sell solar cell-making line to PLG Power in India

By Mass High Tech Staff

Spire Corp. says that it has won a contract from PLG Power Limited of India to provide it with a solar cell module assembly line.

According to company officials, Spire (Nasdaq: SPIR) will provide PLG Power Limited with a manufacturing line able to produce up to 25 megawatts of solar modules per year. No financial details were released, but Bedford-based Spire will supply systems and training to operate the factory, as well as help in qualifying the factory and its products to international standards and certification.

PLG Power Limited is a division of PLG Group, which is involved in manufacturing and agro-based industries located in Mumbai and Kolkata, India. The Spire technology will go into the company’s first solar energy facility.

In April, Spire landed another deal in India, from Alpex Exports Pvt. Ltd. of Delhi, for a production line capable of up to 15 megawatts worth of solar cell modules.

Spire reported a 2007 net loss of $1.7 million on revenue of $38.4 million.