GT Solar wins $171m order in China
Merrimack-based GT Solar has signed a $171 million contract with China-based Glory Silicon Energy Ltd. that will help equip what is expected to be one of the largest wafer factories in the world. The plant would produce approximately 1,500 megawatts per year, GT Solar said, adding that the deal represents the largest single DSS furnace contract in the company's history. The company is a maker of photovoltaic production equipment for the solar energy industry, Deliveries of the product, which includes GT Solar's new DSS450 furnace for the production of multicrystalline silicon ingots, are planned be executed over the next two years, according to officials. On July 23, the company announced that it had received a $40.7 million order from Soltech SA of Patras, Greece, for a turnkey line of equipment capable of making 30 megawatts of solar wafers, cells and modules annually. GT Solar announced its plans to execute a $200 million initial public offering of stock in April. Timing of the offering has not been announced. The company, which employs 123, has facilities in New Hampshire and China. Officials said the company expects to add another 90 to 100 employees during the next year.