U.S., Chinese Companies Join Forces in Solar-Power Deal
The strategic cooperation arrangement helps First Solar secure access to China's solar sector amid shaky conditions in Europe, the world's leading solar market, said WSJ.
Under the terms of the agreement, initially First Solar and CPINE will explore collaboration on solar PV projects in China and identify project investment opportunities for CPINE in the U.S. and other global solar markets. That leverages CPINE's role as a leading renewable energy developer in China. China Power has planned 2 gigawatts of projects for the domestic market, while First Solar has planned 2.4 gigawatts of projects in North America.
Kevin Berkemeyer, First Solar's China representative, said China Power has "a tremendous advantage and strength in operating in China, and we have a tremendous advantage and strength in technology but also in building utility systems."
Added TK Kallenbach, president of First Solar's Components Business Group: "Both China and the U.S. are important markets with vast potential for sustainable solar energy, and this agreement can serve as a model for U.S.-China collaboration on renewable energy.Our agreement with CPINE also includes the potential to expand to other international markets, which could open up tremendous opportunities."
First Solar manufactures solar modules with an advanced semiconductor technology and provides comprehensive photovoltaic (PV) system solutions. CPINE is a wholly owned subsidiary of China Power New Energy Development Company Limited.
Where to Invest in the Booming Aerospace Manufacturing Industry
2019 Auto/Aero Site Guide
A Site Selector’s Checklist for Locating in the U.S.
Location USA 2019
A Changing Food Manufacturing Industry
2017 Food Processing
Front Line: Manufacturers Look to Nontraditional Locations
The 3 Cs of Successful Site Selection: Company, Culture, and Community
2019 Gold & Silver Shovel Awards: Recipients Garnered Large Job-Creating and Investment Projects in Diverse Industries