Centrosolar Withdraws From Solar Cell Manufacturing Joint Venture
Centrosolar Group AG has ended talks regarding the continuation of Itarion Solar LDA,a joint venture originally launched by Centrosolar and Qimonda AG forthe manufacture of photovoltaic cells. Itarion Solar LDA willconsequently file for insolvency.
Following the insolvency ofQimonda AG on Jan. 23, a consortium of Portuguese industrial companies,banks and investment funds was assembled to take on Qimonda’s interestin the venture. However, Centrosolar says that the direction now takenby the latest negotiations has ruled out success for the project.
Thelatest solution discussed with the consortium entailed excessive risksand necessitated a much greater involvement by Centrosolar in theoperating side of business than in the concept it originally agreed towith Qimonda AG, says Centrosolar.
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