9 September 2013

First Solar creates PV Projects JV with BELECTRIC

First Solar Inc of Tempe, AZ, USA, which makes thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services, and BELECTRIC Holding GmbH are to undertake a joint venture (JV).

PV Projects GmbH & Co KG (the name of the JV) will be based in Germany and will develop selected photovoltaic (PV) power projects independently acquired or developed by either First Solar or BELECTRIC in Europe, North Africa, and projects of less than 20 megawatts (MW) in the United States.

Under the terms of the JV, First Solar will supply its thin-film modules, selected components such as the First Solar Tracker and value-added services, while BELECTRIC will provide its Balance of Systems (BoS) and a range of service capabilities. Both firms' EPC contributions will vary by project and geography. The JV's emphasis on the sub-20MW segment in the United States will include BELECTRIC's existing 280MWp pipeline in the country, along with other opportunities. The non-exclusive agreement will also allow both firms to independently and competitively pursue development prospects and corresponding EPC work.

Recently, the two firms marked the inauguration of the 128MWp Templin solar power plant in Germany, the largest deployment of First Solar modules in Europe. An estimated 80% of the 1,400 MWp of solar electricity generation capacity installed by BELECTRIC is powered by First Solar modules.

"First Solar and BELECTRIC share a long history of excellence and we are confident about the future of this initiative, which is based on a firm foundation of mutual trust, expertise and a track record that is unrivalled in the solar energy industry," said Jim Hughes, First Solar's chief executive officer.

"We are happy to celebrate this important new milestone in our long-term partnership with First Solar," said Bernhard Beck, chief executive officer of BELECTRIC Holding. "By joining forces to create a world-class project delivery platform, we hope to strengthen both companies' relationships with key stakeholders including project developers and investors at a time when prices of electricity from solar power plants can already compete with the prices for conventionally generated electricity in a growing number of regions."

Tags: First Solar Thin-film photovoltaic CdTe

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