LG Electronics to Supply 24 Megawatts of Panels to Borrego Solar

Sept. 2 (Bloomberg) — The North American unit of LG
Electronics Inc.
, the world’s second-largest television maker,
agreed to supply Borrego Solar Systems Inc. with 24 megawatts of
solar panels through 2015.

Closely held Borrego Solar, based in San Diego, plans to
use the modules for commercial projects, Englewood Cliffs, New
Jersey-based LG Electronics USA said today in a statement. Terms
weren’t disclosed.

Solar panels face a looming shortage following a two-year
price slump induced by overproduction, particularly in China,
where manufacturers could have duties imposed on modules
exported to the U.S.

“LG has a 30-year track record in solar technologies,”
Borrego Solar Chief Executive Officer Mike Hall said in the
statement. “This agreement allows us to meet rising commercial
market demand for top-tier, high-efficiency modules –- with the
added benefit of not being subject to Commerce Department
tariffs on Chinese modules.”

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Carlos Caminada

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