30265 - Sunpreme Silicon

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Summary of Proposed Investment

Project Number

30265

Company Name

Sunpreme, Inc.

Date SPI Disclosed

May 4, 2011

Country

East Asia and Pacific Region

Industry

Infrastructure

Projected Board Date

Jun 10, 2011

Status

Active

Sector

Engineering Services

Department

TMT, Venture Capital & Funds

Environmental Category

B - Limited

Previous Events

Approved : Jun 23, 2011
Signed : Jun 30, 2011
Invested : Jul 29, 2011

Project Description

Sunpreme Ltd. (the “Company”) is a global photovoltaic (PV) solar start-up company, based in Cayman Islands, engaged in the business of developing and commercializing its proprietary SmartSilicon® based solar cells to satisfy growing global needs for low-cost, high efficiency clean energy. The Company is raising up to $60 million to scale up manufacturing and R&D facilities globally, including China, other parts of Asia and Latin America. Initially, the Company will be setting up a 30MW initial production capacity in Jiaxing, China, and build additional production facilities in other markets globally (the “Project”). The financing will be deployed towards capital equipment expansion, building out R&D capacity, working capital and set up facilities and partnership agreements in key markets in Latin America, Asia and other geographies.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	25.0

Development Impact

The Project will contribute to the transfer of technologies in the solar sectors to key emerging markets such as Latin America, Sub-Saharan Africa, China and India by combining the high technology innovation in the Company's US facilities, with the lower manufacturing base and target user markets in developing countries. By supporting a technology innovator that focuses on reducing cost/watt at the module level and supplying modules to the large manufacturers, the Project will support the solar sector in its aim to reduce its cost to close to grid parity levels in key markets. In addition, the Company's green technology process sequence avoids toxic and/or exotic materials, aiming to eliminate the paradox of exporting clean technology globally while polluting the environment locally.

- Providing access to a spectrum of financing instruments for a fast growing early stage company, as it matures from an R&D driven innovator into a module manufacturer; - Providing a global perspective with potential to introduce to other clients in emerging markets, aiming to establish other partnerships. - Helping the Company expand in key markets such as China, India, Brazil and Sub-Saharan Africa to provide low cost and high performance solar technology locally and abroad.

The key environmental and social issues associated with the Project are opportunities for greenhouse gas reductions, and risks in the Company’s environmental and social management system, health and safety for workers and local communities, hazardous materials management, and emissions to air, water, and substrate. This has been classified as a Category B project according to IFC''s Procedure for Environmental and Social Review of Projects. As a condition of IFC''s investment, Sunpreme will commit to developing and implementing a Social and Environmental Management System for ensuring that all relevant social and environmental risks and impacts are managed as appropriate. Specific information about how risks, impacts and opportunities will be addressed by Sunpreme is summarized in the Environmental and Social Review Summary for the Project.

Contacts

For Inquiries About the Project, Contact

Dr. Ashok K. Sinha 615 Palomar Avenue Sunnyvale, CA 94085 United States of America Email: asinha@sunpreme.com

For Inquiries and Comments About IFC, Contact

General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster

Local Access of Project Documentation

Dr. Leiping Lai Suite 208 Building 8, no 3000 Longdong Ave Zhangjiang Hi-Tech Park Pudong, Shanghai 201203

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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