US-Based Solar Provider Spire Enters Bangladesh Solar Market

Online, February 18, 2011 (Newswire.com) - Nasdaq listed Spire (NASDAQ:SPIR) is extending its presence in the Bangladesh solar market. In a country where 65% of the population is not connected to the power grid solar energy generation makes perfect sense. Energy in Bangladesh is scarce and expensive and according to Spire CEO Roger Little, the solar market is growing rapidly.

Spire is providing Bangladeshi company Rahimafrooz Renewable Energy with an advanced module manufacturing line capable of assembling 20MW per year of photovoltaic modules. In addition to providing manufacturing capacity, Spire is also supplying system design abilities and manufacturing technology that will enable Rahimafrooz to provide modules and systems for rural electricity generation.

According to their bio, "Spire Corporation develops, manufactures and markets customized turnkey solutions for the solar industry, including individual pieces of manufacturing equipment, and full turnkey lines for cell and module production and testing. Its operations are focused on three business areas: Spire Solar, which consists of solar equipment, solar systems and solar materials; Spire Biomedical, which consists of biomedical and biophotonics research, and optoelectronics, which consists primarily of Spire Semiconductor. Its individual manufacturing equipment products and its SPI-Line integrated turnkey cell and module production lines can be scaled, customized and automated with high throughput."

Rahimafrooz Renewable Energy has installed solar systems on more than 100,000 homes across Bangladesh and supported and additional 600,000 installations since 2003. This order signals significant growth potential for Rahimafrooz and further expansion of the solar market across Asia.