Solar Stocks News - GT Solar (NASDAQ: SOLR) Signs More than $40 Million in New Contracts with GCL-Poly

Solar Stocks News - GT Solar (NASDAQ: SOLR) Signs More than $40 Million in New Contracts with GCL-Poly

Leading Chinese Solar Company Purchases Equipment, Technology and Know-How from GT Solar

MERRIMACK, N.H.----GT Solar International, Inc. (NASDAQ: SOLR), a global provider of specialized production equipment, process technology and turnkey manufacturing services for the solar power industry, today announced that it has signed contracts in excess of $40 million with two wholly owned subsidiaries of China-based GCL-Poly Energy Holdings Limited (“GCL-Poly”). The first agreement, with Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., is for GT Solar’s best-in-class Trichlorosilane (TCS) Production Technology Solution. The second, with Jiangsu GCL Silicon Material Technology Development Co. Ltd., is for GT Solar’s market-leading Directional Solidification System (DSS) furnaces and ancillary equipment. These contracts represent the first purchases of GT Solar equipment and services by GCL-Poly and its subsidiaries.

“We are pleased to welcome GCL-Poly as a new GT Solar customer for both our polysilicon and photovoltaic equipment businesses”.GT Solar’s TCS Production Solution includes all of the technology and basic engineering services required to produce TCS, one of the primary raw materials used to manufacture polysilicon. GT Solar’s DSS furnaces are used to melt polysilicon and grow multi-crystalline ingots, which are utilized to produce solar wafers and, ultimately, solar cells.

“GCL-Poly is committed to providing high-quality and cost-competitive solar raw materials by adopting the best-in-class technologies and equipment,” said Mr. Zhu Gong Shan, executive director, chairman and chief executive officer of GCL-Poly. “We chose to purchase the TCS Production Solution and DSS units from GT Solar because of their proven expertise in both polysilicon production and ingot crystallization. GT Solar’s TCS production solution should help to improve the quality and lower the cost of our polysilicon operations. Their expected timely delivery of the DSS furnaces should help to ensure that our new ingot and wafer production facility can be up-and-running in 2010.”

“We are pleased to welcome GCL-Poly as a new GT Solar customer for both our polysilicon and photovoltaic equipment businesses,” said Tom Gutierrez, GT Solar’s president and chief executive officer. “Our relationship with GCL-Poly further strengthens our market position in China and reinforces our role as a technology leader. We believe GT Solar’s DSS furnaces are the system of choice for leading PV manufacturers around the world. And, our TCS Production Technology Solution represents another win for this leading technology that should help to significantly lower the production cost of polysilicon.”

About GT Solar International, Inc.

GT Solar International, Inc., based in Merrimack, NH, USA, is a leading global provider of specialized production equipment, process technology and turnkey manufacturing services for the solar power industry. The company's products and services allow its customers to optimize their manufacturing environments and lower their cost of ownership, accelerating the drive towards grid parity. For additional information about GT Solar, please visit www.gtsolar.com.

About GCL-Poly Energy Holdings Limited*

GCL-Poly Energy Holdings Limited is China’s largest and one of the world's leading polysilicon suppliers and also a top green energy enterprise in China with extensive operation and management experience. Annual polysilicon production capacity of GCL Solar, a subsidiary of the Group, reached 18,000 MT at the end of 2009 and is expected to reach 21,000 MT by the end of 2010. GCL Solar has also started constructing wafer production facilities and targets to achieve 1GW of capacity by mid-2010. In addition, the Group controls and invests in a total of 18 cogeneration power plants, one incineration power plant and one wind power plant. Most of these plants are located in Jiangsu and Zhejiang provinces in China with strong economic growth and robust demand for electricity and steam. All these plants are advocated and encouraged by the Chinese government. For more information about GCL-Poly, please visit the company’s website at www.gcl-poly.com.hk.

*Source: GCL-Poly Energy Holdings Limited. GT Solar takes no responsibility for the accuracy of this description.

Forward-Looking Statements

Some of the statements in this press release are forward-looking in nature, including statements regarding the $40 million combined total value of GT Solar’s new contracts with GCL-Poly. These statements are based on management’s current expectations or beliefs. These forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside GT Solar’s control, which could cause actual events to differ materially from those expressed or implied by the statements. Factors that may cause actual events to differ materially from those expressed or implied by our forward-looking statements include the possibility that GCL-Poly may not perform its obligations under its contracts with GT Solar, and various other risks as outlined in GT Solar International, Inc.’s filings with the Securities and Exchange Commission, including the statements under the heading “Risk Factors” in GT Solar’s annual report on Form 10-K for the fiscal 2009 filed on June 9, 2009 and Form 10-Q for the second quarter of fiscal 2010 filed on November 10, 2009. Statements in this press release should be evaluated in light of these important factors. GT Solar International, Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

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Solar Stocks News - First Solar (Nasdaq: FSLR) Becomes First PV Company to Produce 1GW in a Single Year

Solar Stocks News - First Solar (Nasdaq: FSLR) Becomes First PV Company to Produce 1GW in a Single Year

TEMPE, Ariz.---First Solar Inc. (Nasdaq: FSLR) today announced it has manufactured and shipped more than 1 gigawatt (GW) of its photovoltaic (PV) solar modules in 2009, becoming the first PV company to attain this production volume in a single year. One gigawatt of solar modules produces enough electricity to serve the needs of approximately 145,000 average American homes and saves roughly 1 million metric tons of carbon dioxide emissions annually.

As the world’s largest solar module manufacturer, First Solar has increased its manufacturing capacity from approximately 75 megawatts (MW) per year at the beginning of 2007 to more than 1GW today.

“This proof that the solar industry can achieve the manufacturing scale necessary to fight climate change is especially timely in light of the Copenhagen conference that began last week,” said Bruce Sohn, First Solar president. “Our efforts in scaling our technology are critical to creating a more sustainable energy infrastructure and reducing greenhouse gas emissions.”

First Solar has continually lowered the cost of manufacturing solar modules, breaking the $1 per watt barrier earlier this year.

About First Solar

First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. By continually driving down manufacturing costs, First Solar is delivering an economically viable alternative to fossil-fuel generation today. From raw material sourcing through end-of-life collection and recycling, First Solar is focused on creating cost-effective, renewable energy solutions that protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships and other risks detailed in the company's filings with the Securities and Exchange Commission. First Solar assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.








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