Q-Cells AG, Renewable Energy Corporation and IBG are also investors in CSG, and participated in the recent financing round. The investment will finance the construction and launch of CSG's first production facility designed for an annual output of 25 MW. Production should begin in early 2005, according to the company. CSG plans to manufacture 1.4 m2 photovoltaic (PV) modules with its patented Crystalline Silicon on Glass (CSG) technology. The first CSG factory will be built at Thalheim in the German State of Saxony-Anhalt to benefit from strong local and State government support, and from the Company's strategic relationship with Q-Cells AG. Ongoing development of CSG product will stay in the company's Australian subsidiary CSG Solar Pty Limited.
Solar Thin-Film Production Facility to Open in Germany
Apax Partners and Good Energies have invested EUR 24 million (US $31.2 million) in CSG Solar AG, a company that has developed second-generation thin-film solar-module technologies.