First Solar, Belectric expand solar projects cooperation with JV deal

Sep 9, 2013 - US firm First Solar Inc (NASDAQ:FSLR) Monday unveiled a joint venture with German solar system integrator Belectric Holding GmbH aimed at developing solar parks on three continents.

The new entity will be named PV Projects GmbH & Co KG and will be headquartered in Germany. It will deal with the development of selected solar projects in Europe and North Africa as well as schemes of no more than 20 MW in the US. First Solar noted that the sub-20-MW part of the deal will cover Belectric’s existing 280-MWp pipeline in the US and other opportunities.

First Solar will deliver its advanced thin-film modules, selected photovoltaic (PV) parts and value-added services, while its partner will offer its advanced Balance of Systems (BoS) and services.

The joint venture, which is the latest milestone in the cooperation of the two partners, is subject to clearance from the relevant governmental merger control authorities.

In April, Belectric dedicated a 128-MW solar park in Germany that uses First Solar’s modules. In addition, about 80% of the 1,400 MWp of solar capacity installed by the German firm is powered by First Solar’s PV modules.

Market research firm IHS (NYSE:IHS) said in a market study last month that First Solar will install 1.1 GW of capacity in 2013, ranking first globally thanks to its business model of acquiring, installing and divesting projects.

Choose your newsletter by Renewables Now. Join for free!