Ascent Solar (ASTI) And Kirloskar Integrated Technologies Limited Form Strategic Alliance

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Ascent Solar just announced that company has signed a  new strategic alliance agreement with Indian industrial and engineering conglomerate Kirloskar Integrated Technologies Limited. The agreement consists of three phases; in the first, the companies will cooperate to bring Ascent’s solar modules into Indian products targeting the following markets: defense, consumer portable power, off grid rural power solutions and hybrid solar and diesel generation back up power systems. In the second phase, a back-end module assembly plant will be built in India. The third phase will involve complete end-to-end module manufacturing in India.

In a press release, Ascent Solar President and CEO Farhad Moghadam  commented on the agreement:

“Our relationship with Kirloskar provides Ascent Solar with a partner for development of multiple market opportunities in a rapidly advancing country like India. We believe that Kirloskar has significant relationships and well established sales and marketing channels in key target markets for defense, space, consumer electronics and hybrid diesel generators. We are proud to continue our work with Kirloskar to address a wide array of growing off-grid and on-grid PV opportunities in the growing Indian market.”

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