— Wins 2nd EU Award —
Enfoton Solar Ltd., the only photovoltaic panel manufacturer in Cyprus, has won the European Export Award for its contribution to the island’s economy, as nearly all of its production worth 59 mln euros last year was shipped to clients in the EU.
This is the second time that the company has won the coveted prize for industries employing more than 50 people issued jointly by the Ministry of Commerce and Industry and the Cyprus Chamber of Commerce and Industry (KEVE), having won it the first time just three years into its production life in 2005.
At the time, production had soared to 24,325 panels, five times the start up level of 4,630 in 2003, while production skyrocketed another fivefold last year to 130,925 panels. This represents an output measured in energy capacity from 800 kilowatts in 2003 to 5 megawatts (MW) in 2005 and 29.91 MW in 2009.
“We can meet all of Cyprus’ needs in solar panels,” said Tassos Roussos, Sales and Marketing Director for the privately-held and wholly Cypriot owned company.
He explained that with the fixed-price incentive offered by the Ministry of Commerce, Industry and Tourism and the Electricity Authority of Cyprus with energy purchasing contracts over a 15 to 20 year period, an installation could break-even within five to eight years depending on the type of installation, while Enfoton can also provide complete system designs for customers in Cyprus.
Since its establishment in 2002, initially with an exclusive contract to Antec and Ersol Solar Energy, both of Germany, the company has grown to acquire its own proprietary know-how and technology and has become a deserving member of Europe’s family of photovoltaic solar module manufacturers.
Enfoton’s founders, headed by Managing Director Alex Soteriou, produced their first polycrystalline solar module at their own facilities at the Strovolos Industrial Estate in April 2003. Since then, the company has gone from one success to the other, enjoying annual growth rates of 30% with an output capacity that can reach 60MW. The aim is to expand that production capability to 110MW and join the ranks of the biggest panel makers in Europe.
Production is being further enhanced with an additional manufacturing line at the new facilities in Kokkinotrimithia this summer, replacing the “older” unit that is already three years old and considered by the industry as out dated, Roussos said. The brand new site that covers 5,000 sq.m. and came into operation less than a year ago, has doubled its workforce to 110 people on three continuous shifts around the clock, in order to meet the demands of the growing order book with exports to Germany, France, Spain, Italy and Greece.
The company complies with the latest Quality Management system, with the ISO 9001:2008 certification, as well as the Environmental Standard ISO14001 and the Work Health and Safety Standard OHSAS18001, while Enfoton’s products are continuously tested and certified by Germany’s TUV Rheinland and Italy’s ICIM quality and safety certification bodies.
Revenues in 2009 were nearly identical to those of 2008 and significantly higher than 2007 whilst the cost of silicon was drastically reduced.
Enfoton has strong and long-lasting relationships with the world’s best PV players such as Q-Cells SE the leading polycrystalline silicon solar cell producer, and IBC Solar AG the world leader in photovoltaic (PV) system integration and Enfoton’s biggest customers. Roussos added that these business relationships help the company maintain competitive export rates for its completed panels that are packed and ready to be shipped as fast as the twin production lines can make them.
