Ascent Solar in pact with Shenzhen Radiant and TSDI to provide solar power for railway stations in China

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Ascent Solar in pact with Shenzhen Radiant and TSDI to provide solar power for railway stations in China

By Greentech Lead Asia: Ascent Solar Technologies, a
developer of flexible thin-film photovoltaic modules, has signed a three way
strategic joint development agreement with Shenzhen Radiant Enterprise and
Third Railway Survey and Design Institute (TSDI) of China.

As per the agreement, TSDI will promote the use of Ascent
Solar modules on existing and future railway stations in China. Radiant has
been responsible for the PV retrofitting of existing railway stations, as well
new installations of roofing component on multiple railway station projects
throughout China.

“We are honored to be involved with TSDI through this
very important partnership, which will promote Ascent Solar’s transformational
technology in a high-profile sector of China’s public infrastructure. This
year, we look forward to working closely with TSDI and Radiant to design and
develop systems to be installed beginning in 2013,” said Victor Lee,
president and CEO, Ascent Solar.

Radiant will work closely with Ascent and TSDI to design,
engineer and install the solar systems.

 “China’s state-of-the-art railway system is one of
the largest and fastest growing in the world. Ascent Solar and Radiant Group
feel privileged to work with TSDI towards the goal of incorporating green,
renewable energy with this important piece of China’s infrastructure,” said
Winston Xu, founder of Shenzhen Radiant.

According to the terms of the agreement, the three
parties will begin system design and engineering development in the near term,
with initial project installations beginning in 2013.

TFG Radiant increases stake in Ascent Solar to 41%

Recently, Ascent Solar announced that TFG Radiant
Investment Group has increased its owner ship in ascent by purchasing more
shares. TFG Radiant currently owns approximately 20 percent of shares of Ascent
and this new acquirement will put TFG Radiant’s ownership at approximately 41
percent.

[email protected]

 

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