Solar Thin Films, Inc. Enters Into Letter of Intent for Joint Venture
November 29 2010 - 9:00AM
Marketwired
Solar Thin Films, Inc. (OTCBB: SLTZ) today announced that it has
entered into a Letter of Intent with One Globe Renewables, LLC of
Colorado, USA for the purpose of forming a joint venture and
strategic relationships for the development and syndication of
solar farms on both a proprietary and turnkey basis. Preliminary
talks are underway in Israel, Canada, Europe and elsewhere to form
joint ventures similar to the one being negotiated with One Globe
Renewables. The Company describes these negotiations as the first
stage of its recently announced shift in focus from the sale of
turnkey factories for the production of thin film solar modules
through its Hungarian subsidiary and affiliates to concentrate on
establishing, financing, managing and syndicating solar farms as
power projects both domestically and internationally.
One Globe Renewables, LLC (OGR) is a limited liability company
founded in 2010 and based in Colorado. One Globe focuses on the
development, financing and power project management of rooftop,
carport and ground-mount commercial solar photovoltaic (PV) energy
producing assets in all domestic and selected international
markets.
Solar Thin Films, Inc. (OTCBB: SLTZ) has manufactured solar
module production equipment and turn-key amorphous silicon module
factories. The Company is now working to establish itself as an
international developer and syndicator of solar power projects.
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