CubicPV, Waaree In Multi-Year Supply Agreement For Silicon Cells

US solar cell manufacturer CubicPV and Waaree Energies, Ltd, a leading domestic solar module manufacturer, have announced that they have entered into a multi-year supply agreement in which CubicPV will supply, per annum, 1 GW of silicon cells to Waaree. The cells will feature wafers made with CubicPV’s innovative Direct Wafer® technology, that produces wafers in one-step, directly from a molten bath of silicon.

Frank Van Mierlo

“Our Direct Wafer technology is the ideal solution for India’s domestic utility market and Waaree, by choosing this technology over generic methods, is setting the tone for an Indian manufacturing future that makes better use of materials, requires less energy and is defined by high efficiency,” said Frank van Mierlo, CEO, CubicPV. “CubicPV is honored to begin our journey in India with Waaree. The synergy between one of the leading module manufacturers in India and Cubic’s innovation agenda will create value for both companies and the solar industry in India.”

“As an early entrant in the solar industry, Waaree recognizes the value of innovation to our continued leadership position. We believe that CubicPV’s technologies will deliver significant benefit to our customers and to the Indian solar market both immediately and in the long-run. We are proud to bring a module to the market featuring domestically-produced wafers and cells manufactured with a low carbon footprint,” said Hitesh Doshi, Chairman and MD, Waaree.

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For Waaree, a high volume, multi year agreement at a time of high price volatility for key inputs like cells is an effort to keep prices stable as well as ensure predictable output. The multi-year, high volume deals will also become much more common as more and more module manufacturers seek predictable supply chains and input pricing. CubivPV claims that its core technology, the Direct Wafer® process and durable perovskite chemistry, deliver the lowest cost of electricity and provide the ideal semiconductor combination for high-efficiency tandem modules.