Solar Trust of America, SolarHybrid join forces on large-scale solar plants

(ADPnews) - May 10, 2011 - US solar solutions provider Solar Trust of America LLC and German solar thermal and photovoltaic (PV) system installer SolarHybrid AG (ETR:SHL) have teamed up for the development of utility-scale projects in North America.

The companies have inked a letter of intent (LoI) to set up a joint venture (JV) dubbed SolarHybrid of America LLC. The new entity, operating out of Solar Trust of America's Oakland office, will develop stand-alone PV and concentrated solar power (CSP) sites.

The establishment of SolarHybrid of America LLC comes weeks after the US Department of Energy (DoE) announced a conditional commitment for a USD 2.1 billion (EUR 1.5bn) federal loan guarantee to support the construction of the first phase of the 1 GW Blythe solar power project, which is being developed by Solar Trust of America. The latter has also an extra 1 GW of project sites in advanced stages of permitting in California and Nevada.

Meanwhile, active in Germany, Italy, Slovakia, the Middle East and South Africa, SolarHybrid AG possesses over 220 MW of projects in operation and under development in Europe.

(USD 1.0 = EUR 0.699)

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