Air Products India JV Signs Two Photovoltaic Contracts
September 09 2009 - 2:48PM
PR Newswire (US)
Air Products Gains Foothold in Emerging India PV Market LEHIGH
VALLEY, Pa., Sept. 9 /PRNewswire-FirstCall/ -- Air Products (NYSE:
APD) today announced its joint venture in India, INOX Air Products
Ltd., has recently signed two new contracts with leading Indian
photovoltaic (PV) manufacturers for the company's SunSource(TM)
Solutions gases and materials to support the burgeoning India PV
market. INOX Air Products has signed a long-term gas supply
contract to provide bulk and specialty gases to HHV Solar
Technologies Pvt. Ltd (HHV Solar) at its new thin-film PV fab in
Bangalore. The contract calls for the supply of hydrogen, nitrogen,
oxygen and argon, as well as specialty gases, including silane,
methane and dopant mixtures. In addition, INOX Air Products will
provide the total gas management at HHV Solar's research,
development and demonstration fab. INOX Air Products will also
supply Jupiter Solar Power Ltd, a subsidiary of Jupiter
International, with specialty gases, including nitrogen, oxygen,
silane and ammonia, to its new PV facility at Baddi in Himachal
Pradesh, India. Jupiter Solar Power Ltd is setting up PV solar cell
manufacturing facilities in Himachal Pradesh and West Bengal at an
aggregate investment of Rs 1,500 crore (~US$300 million). "India is
an emerging PV market with strong support from the government. We
are honored to be selected as the supplier for these two PV
projects in India. Our expertise in thin-film PV applications and
complete set of SunSource PV offerings can help our customers
continuously drive down their cost-per-watt through enhanced plant
efficiency," said Corning Painter, Air Products' vice president and
general manager, Global Electronics Division. "We are in a better
position to support the fast-growing solar energy market with these
two contract wins." India, thanks to its embracing of new
technologies and strong demand for renewable energy, is rapidly
emerging as an important PV market. In addition, many regions of
the country experience significant sun irradiation, or prolonged
exposure to strong levels of sunlight, which can help cheaply power
remote areas that are without access to the power grid. Last year,
Air Products won more than 20 new contracts in Asia serving both
the crystalline and thin-film PV markets, and has since signed gas
supply contracts with leading PV manufacturers including Best Solar
and CHINT Solar in China, Green Energy Technology in Taiwan, and
Gadir Solar in Spain. Air Products' long-standing history serving
the semiconductor and thin-film transistor liquid crystal display
(TFT-LCD) industries from their inception to current times makes it
ideally suited to serving the thin-film PV industry. Air Products'
SunSource Solutions offers a portfolio of gases, chemicals,
equipment, on-site services and project management that will help
provide a faster ramp-up and ability to reach grid parity sooner
for manufacturing operations. With the demand for renewable energy
and improved efficiency on the rise, Air Products is well
positioned to support these developing markets with its expertise
and project experience in areas such as large scale hydrogen supply
for cleaner transportation fuels, developmental work on the
hydrogen economy, hydrogen vehicle fuelling and infrastructure,
leading natural gas liquefaction technology, and now the growing
supply of gases and services for the photovoltaic industry. For
more information on Air Products' photovoltaic offerings, please
visit: http://www.airproducts.com/sunsource . Air Products
(NYSE:APD) serves customers in industrial, energy, technology and
healthcare markets worldwide with a unique portfolio of atmospheric
gases, process and specialty gases, performance materials, and
equipment and services. Founded in 1940, Air Products has built
leading positions in key growth markets such as semiconductor
materials, refinery hydrogen, home healthcare services, natural gas
liquefaction, and advanced coatings and adhesives. The company is
recognized for its innovative culture, operational excellence and
commitment to safety and the environment. Air Products had fiscal
2008 revenues of $10.4 billion, operations in over 40 countries,
and 21,000 employees around the globe. For more information, visit
http://www.airproducts.com/. ***NOTE: This release may contain
forward-looking statements. Actual results could vary materially,
due to changes in current expectations. DATASOURCE: Air Products
CONTACT: Media Inquiries: Jessica Cheng, Asia, +852-2863-0585, , or
Robert Brown, US, +1-610-481-1192, , or Investor Inquiries, Nelson
Squires, +1-610-481-7461, , all of Air Products Web Site:
http://www.airproducts.com/
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