AUBURN HILLS, Mich., May 9, 2011 (GLOBE NEWSWIRE) -- United Solar, the leading global manufacturer of flexible, thin-film solar laminates and a wholly owned subsidiary of Energy Conversion Devices, Inc. (ECD) (Nasdaq:ENER), announced today an order for 500 kilowatts (kWp) of its UNI-SOLAR® laminates from JSW Green Energy, a 100% subsidiary of JSW Energy Ltd. of Mumbai, India.
JSW Energy, part of the JSW Group of companies, is one of India's fastest growing power companies and is working towards becoming one of the leading private power producers in the country. As part of this growth strategy, JSW Energy desires to utilize clean, renewable solar energy in its platform of power generation.
"JSW Green Energy is keen on developing special solar products suitable for rooftop mounting wherein UNI-SOLAR panels fit in very well. We plan to utilize their extensive solar photovoltaic (PV) industry expertise and superior flexible solar technology for on-grid solar applications in India. We want to establish a long and successful relationship with United Solar and look forward to employing their unique thin-film technology in pioneering rooftop projects in India," commented Mr. Shishir Tamotia, CEO, JSW Green Energy Ltd.
JSW Green Energy Ltd (JSWGEL), a wholly owned subsidiary of JSW Energy Ltd, is an independent entity focusing on the development of the renewable energy business in India. JSWGEL is a peak power generator company and currently is engaged in engineering, procurement and construction of rooftop integrated grid-interactive/off-grid solar PV systems. JSWGEL envisages being a leader in the supply, design and installation of building integrated photovoltaic (BIPV) and building applied photovoltaic (BAPV) products in India. JSWGEL is also in the business of setting up bio-gas based anerobic digesters across the country that would be utilized for cooking and rural electrification purposes.
"We are pleased to begin this strategic relationship with JSW," said Dr. Subhendu Guha, Chairman of United Solar and Executive Vice President of Photovoltaic Technology, Energy Conversion Devices. "We view India as a key growth market for us in the future, and we believe that our UNI-SOLAR products are uniquely suited for the high heat and high insolation that is found in the Indian market. We look forward to future business with the JSW Group."
United Solar has more than 25 years experience in the industry of solar power generation, and is the largest manufacturer of lightweight, flexible solar panels in the world.
About Energy Conversion Devices/United Solar
Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leader in building-integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency. The company also designs, manufactures and installs rooftop photovoltaic systems, which enable customers to transform unused space on the rooftop into a value-generating asset. In addition, ECD's Ovonic Materials Division is the pioneer in NiMH battery technology, and is developing low cost fuel cells, hydrogen production from bioreformation, and hydrogen storage technologies. For more information, please visit energyconversiondevices.com or follow ECD on Twitter @ECD_ENER.
CONTACT: Energy Conversion Devices Investor Relations Contact: Michael E. Schostak, Head of Investor Relations investor.relations@energyconversiondevices.com (248) 299-6063 United Solar Public Relations Contact: Wendy Ventura, Marketing Communications Manager pr@uni-solar.com (248) 299-6064