Arise Tech to build solar cell plant in Germany

Ontario-based Arise Technologies (TSX-V: APV) announced last week that it would build a solar cell plant in Germany.

The company said it signed a purchase contract for a site in Bischofswerda for the plant, expected to start production in the second quarter of 2008 with an annual capacity of 125 megawatts.

Arise said Germany's Hochtief Construction would construct the plant.

Financial terms were not disclosed.

In May, Arise signed a deal with Deutsche Solar for the supply of silicon wafers to the planned German plant.

Arise said at the time that the 10-year agreement, consisting of approximately 200 MW of wafers, represents a significant portion of the proposed production facility's long-term supply requirements.

The company said it's in discussions with Deutsche Solar to secure up to an additional 200 MW of silicon wafers over the same time period.

In addition to building, Arise is also involved in promoting research.

It announced an agreement in January with the University of Toronto and the Portlands Energy Centre to create Canada's largest solar research facility (see Solar research park created in Canada).

Portlands Energy is providing the land for the project, where U of T students and Arise staff will conduct research on renewable energy systems and technologies.

When completed, the facility will produce enough solar energy to power up to 1,000 homes.

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