IRVINE, Calif., May 11, 2016 /PRNewswire/ -- S-Energy Co., Ltd. ("S-Energy" or "Company") (095910:KOSDAQ), South Korea's leading manufacturer of tier-one solar photovoltaic products, announced today it had reached an agreement to provide 74 megawatts (MW) of solar modules to juwi Inc. ("juwi"), a Colorado-based project developer and turnkey engineering, procurement and construction (EPC) firm specializing in solar energy plants. The Company's modules will be utilized in utility-scale projects in Colorado.
Under the terms of this agreement, S-Energy will deliver the newly-developed SN-series modules manufactured in the Company's state-of-the-art facility in Daejeon, South Korea. One of the projects is expected to be among the U.S.'s first utility-scale photovoltaic system installations with a maximum system voltage of 1,500 V and is scheduled to break ground in the first quarter of 2016. Along with enhanced technology to eliminate potential-induced degradation (PID), S-Energy has made several additional improvements on the modules' overall performance to provide the highest quality and complete satisfaction to its customers.
"S-Energy has been continuously working with juwi's affiliates globally, including its parent company in Germany to build a strong foundation based on trust and reliability," said Mr. Sung-Min Hong, the Company's Founder and Chief Executive Officer. Hong also added, "We have had a very mutually successful relationship with juwi in 2015 in both U.S. and European markets, and we will strive to keep the bond strong for many years to come."
President of S-Energy America, David Kim, stated that "We have been very fortunate to be awarded the opportunity to supply juwi with our newest line of products. S-Energy has been very focused on helping the world move toward 100% sustainable energy and our projects with juwi certainly bring us closer." Kim then added, "We could not be more excited to have this opportunity to utilize our 1,500 V products for the first time in the U.S."
Since the decision in December to extend the ITC, the Company has been experiencing a significant increase in the demand for its non-AD/CVD products. S-Energy's strong financials and its reliable experience over the last 20-plus years are some of the many characteristics that help the Company stand out from the crowd, and will continue to focus on its specialty by providing high-quality solar modules to its customers in the U.S.
About S-Energy Co., Ltd. ("S-Energy")
Started as Samsung Electronics Solar Division in 1994 and subsequently spun off as S-Energy, 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.
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SOURCE S-Energy Co., Ltd.