Joint Collaboration to Develop Solar Energy Solutions for Rural Electrification Using Ascent Solar Modules
THORNTON, Colo.- Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, has entered into a memorandum of understanding (MOU) with The Energy and Resource Institute (TERI) of New Delhi, India. Under the terms of the MOU, TERI will perform testing and performance evaluation of Ascent Solar high efficiency flexible thin-film CIGS modules and study the feasibility of including Ascent’s modules for TERI’s flagship program “Lighting a Billion Lives” (LaBL) and other projects currently under development at TERI.
Upon successful completion of evaluation of both technical and economical feasibility, TERI and Ascent Solar will mutually discuss and decide on the terms and conditions for the use of Ascent Solar’s modules for the LaBL program and or other projects. TERI and Ascent Solar will also decide on the implementation model to follow once the evaluation phase is complete.
Ms. Akanksha Chaurey, Director Decentralised Electricity Solutions and Lighting a Billion Lives Campaign TERI, said, 'Ascent Solar has been one of the forerunners in the development of futuristic technologies in the field of solar photo-voltaic energy. Our collaboration with Ascent Solar will help engage the much needed newer, cutting edge solar photo-voltaic technologies into our ongoing electrification projects for rural applications including solar lighting through our flagship programme Lighting a Billion Lives.”
Ashutosh Misra, SVP of Corporate Development for Ascent Solar, stated, “India is one of the largest off-grid electricity markets in the world and the need for innovative and cost competitive off-grid electricity generation in urban and rural markets in India presents a tremendous opportunity for Ascent Solar. TERI is a premier organization focusing on developing a range of technologies that have created new paradigms of development underlining the sustainable use of natural resources, and are proven for their effectiveness and economic viability. Our joint collaboration to develop various solar energy solutions for TERI’s rural electrification projects including its flagship 'Lighting a Billion Lives' based on solar technology provides us with a unique opportunity to grow our market share in India. Our unique, light-weight, ruggedized, high power density thin-film CIGS modules enable ease of installation, handling and transport that are an ideal solution for LaBL and other programs like it.”
About The Energy and Resource Institute:
A dynamic and flexible organization with a global vision and a local focus, TERI was established in 1974. While in the initial period the focus was mainly on documentation and information dissemination activities, research activities in the fields of energy, environment and sustainable development were initiated towards the end of 1982. The genesis of these activities lay in TERI’s firm belief that efficient utilization of energy, sustainable use of natural resources, large–scale adoption of renewable energy technologies and reduction of all forms of waste would move the process of development towards the goal of sustainability.
All activities in TERI move from formulating local and national level strategies to suggesting global solutions to critical energy and environment-related issues. It is with this purpose that TERI has established regional centres in Bangalore, Goa, and Guwahati, and a presence in Japan, Malaysia, Russia, and the United Arab Emirates. It has also set up affiliate institutes: TERI–NA (The Energy and Resources Institute, North America) Washington DC, USA, and TERI–Europe in London, UK.