3 April 2012

Solar Frontier and Belectric form PV CIStems JV for solar power plants

Germany-based Belectric - the world’s largest solar engineering, procurement & construction (EPC) firm - and Tokyo-based Solar Frontier (a subsidiary of Japanese energy business Showa Shell Sekiyu K.K.) – the largest manufacturer of CIS (copper indium selenium) thin-film photovoltaic (PV) solar modules - have formed the new joint venture PV CIStems GmbH & Co KG in Gruenwald near Munich, Germany to develop, build and sell both ground- and roof-mounted power plants. By combining Belectric’s EPC and project development experience with Solar Frontier’s panel expertise, PV CIStems aims to offer worldwide turnkey solutions for cost-efficient solar power generation.

PV CIStems is the first operating company to result from a global framework agreement to establish a deeper working relationship between Belectric and Solar Frontier as the two firms strive to continue providing affordable and grid-stabilizing solar energy through lower systems and maintenance costs. PV CIStems will operate in Germany, but future PV CIStems operating companies in other countries are expected to be established in response to local market needs and in accordance with local regulations.

Belectric and Solar Frontier are building on and accelerating the model of development and deployment created by the two firms in previous projects. “Our successful projects with Solar Frontier, ranging from ground-mounted power plants in Bessan, France, and Wildflecken, Germany, to the world’s largest PV system on a car park at the new Saudi Aramco headquarters, Saudi Arabia, have convinced Belectric to take this next step,” says Belectric's chief scientific officer Martin Zembsch. “The new company will strengthen our approach to new projects with respect to total power generation solutions while accelerating our competitive response and delivery capability,” adds CEO Bernhard Beck.

The new JV also benefits from synergies in market coverage, reckons Solar Frontier Europe's managing director Wolfgang Lange, who also Belectric cites entrepreneurial spirit.

“With more than 700MW installed since 2010, from residential to utility scale, in a wide range of climates, configurations, and technologies, Belectric’s confidence in Solar Frontier confirms the strong performance of our CIS modules within energy solutions,” says Solar Frontier director, senior VP, Atsuhiko Hirano.

The JV's management board will have equal representation from both parent firms, consisting of Bernhard Beck, Martin Zembsch, Atsuhiko Hirano and Wolfgang Lange. The formation of the JV is subject to cartel approval.

Tags: Solar Frontier CIS thin-film PV modules

Visit: www.solar-frontier.com

Visit: www.Belectric.com

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