SunPower Corporation has now secured its second joint venture agreement in China. The new agreement — with Tianjin Zhonghuan Semiconductor Company; Sichuan Development Holding Company; Leshan Electric Power Company; and Tianjin Tsinlien Investment Holding Company — will see the development of at least 3 GW worth of solar photovoltaic power plants in China.
These power plants — to be located in the Sichuan Province — are set to be built mostly with high-efficiency, low-concentration photovoltaic (LCPV) technology.
The joint venture itself — which is known as the Sichuan Shengtian New Energy Development Company — is expected to utilize SunPower’s proprietary LCPV SunPower C7 Tracker technology in the construction of the power plants.
As per the agreement, SunPower will invest up to about $20 million — about a 4.6% stake in the venture. LCPV deployment is expected to begin sometime in 2015.
“In a short period of time, SunPower has begun to tap into China’s tremendous, growing market, where our leading technology is well suited to the environment and is in demand,” stated Tom Werner, SunPower president and CEO, after the agreement signing ceremony in Chengdu, China. “Once again, this new joint venture brings together the strength and expertise of each partner to achieve a common goal of providing clean solar energy to the people of China. With an expected pipeline of more than 3 GW, we see tremendous opportunity for SunPower and our partners.”
This new agreement marks the second joint venture secured by SunPower in China. A little under two years ago, SunPower signed a joint venture agreement to form the Huaxia CPV (Inner Mongolia) Power Company. As of right now, the venture has resulted in a 300 MW C7 cell receiver manufacturing facility in the Jinqiao Development Zone, Hohhot, Inner Mongolia; and three 50 MW production lines.
Also, currently in development via the venture is a 20 MW project in Saihan as well as a 100 MW project in Wuchuan. Both are expected to be completed sometime in 2015.
Image Credit: SunPower
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