New York Times: Solyndra to close plant
The New York Times reports that tubular thin-film solar maker Solyndra is shutting its first fabrication plant, now that it's second plant is on-line. Solyndra was a high flyer in the cleantech space, raising oodles of private funding and a $535 million federal loan guarantee.
The Times reports the closure of the older plant means the loss of 40 permanent and 150 temporary jobs. Additionally, it takes a big bite out of the company's planned capacity, more than halving it from 610 MW to 285-300 MW by 2013.
In the summer, Solyndra revealed some details about its cost structure when it filed for a possible IPO (the firm decided not to go public). At the time, many analysts pointed out that the firm, which makes modules from glass tubes containing a layer of thin-film CIGs cells, would have a hard time competing with low cost polysilicon-based solar modules from China.
Solyndra's CIGS solar inside glass tubes cast shadows on a rooftop. Credit: Solyndra