S-Energy to Supply 25 MW of Solar Modules for Utility-Scale Projects in New Mexico
IRVINE, Calif., July 1, 2015 /PRNewswire/ -- S-Energy Co., Ltd. ("S-Energy" or "the Company") (095910:KOSDAQ), South Korea's leading manufacturer of tier-one solar photovoltaic products, announced today it had reached an agreement to provide 25 megawatts ("MW") worth of solar modules to juwi Inc. ("juwi"), a Colorado-based developer and turnkey engineering, procurement and construction (EPC) firm specializing in solar energy plants. The Company's modules will be utilized to two utility-scale projects in New Mexico to serve Public Service Company of New Mexico (PNM), the largest electricity provider in New Mexico.
Under the terms of this agreement, S-Energy will deliver a total of 25 MW of its newly-developed SN-series modules manufactured out of the Company's state-of-the-art facilities in Daejeon, South Korea starting in August through November of 2015. Along with enhanced technology to minimize the potential-induced degradation (PID), S-Energy has made several improvements on the modules' overall performance to provide complete satisfaction and comfort to its customers.
"S-Energy has been continuously working with juwi's parent company in Germany to build a relationship based on each other's trust and bankability," said Mr. Sung-Min Hong, the Company's Chief Executive Officer, and added "we are very excited to extend our collaboration to the US market and look forward to our future relationship."
With much uncertainty in the current solar market, S-Energy's strong financials and reliable experience of more than 20 years are some of the many characteristics that help the Company stand out from the crowd. The Korean manufacturer has also recently decided to focus on its specialty by providing high-quality solar modules to its customers in US and will be exhibiting at Intersolar North America in San Francisco this year.
About S-Energy Co., Ltd. ("S-Energy")
Started as Samsung Electronics Solar Division in 1994 and subsequently spun off as S-Energy (095910:KOSDAQ), the Company is one of the industry's oldest and most experienced PV module manufacturers. More than twenty years of field operating data support S-Energy's reputation as the best over-all quality, performance, and value for solar investors. From offices in Asia, Europe, and North America, S-Energy also provides development, financing, operations, and maintenance services to assist customers in ensuring the success of their solar projects. S-Energy, the first renewable energy company listed on the KOSDAQ in 2007, is one of the most financially stable global PV module OEM's with consistent positive operating margin and low debt to equity ratio. Learn more at www.s-energy.com/en.