San Francisco, United States [RenewableEnergyWorld.com] Suntech Power Holdings Co. Ltd and MMA Renewable Ventures announced the creation of Gemini Solar Development Company, a joint venture to develop and finance solar photovoltaic (PV) projects with capacities of 10 megawatts (MW) and larger. MMA Renewable Ventures, Suntech and their third-party finance partners will co-own and operate the projects built by Gemini Solar.
MMA Renewable Ventures said in a statement that Gemini Solar will provide an end-to-end solutions to address the growing demand for large-scale solar power projects as the U.S. increases its efforts towards energy independence.
“Gemini Solar combines the forces of two of the most experienced renewable energy companies in the world. ‘Gemini’ refers to the fact that the two firms share the same vision about how the U.S. solar market will develop and grow,” said Kristina Peterson, president of Gemini Solar. “Working together, the joint venture will develop large-scale solar energy installations to help address the critical need for renewable power generation to represent a greater portion of our national energy portfolio.”
Suntech also announced that it has acquired EI Solutions, a California-based commercial solar system integration company. EI Solutions has designed and implemented solar projects for many U.S. companies including Google, Disney, Sony Pictures, the North Face and Puget Sound Energy. Suntech also said that it is expanding its U.S. dealer network to increase penetration into the residential roof-top and small commercial system solar market and build brand recognition with downstream solar integrators.
“These initiatives mark a new era of growth for Suntech in the U.S.,” said Roger Efird, president of Suntech America. “With the acquisition of EI Solutions and our joint venture with MMA Renewable Ventures, we can now offer a fully integrated solar solution to commercial, utility and government customers. This will provide us with a much closer relationship with these customers and enable us to capture a significant portion of the rapidly growing market for larger systems, particularly in the utility sector. At the same time, our rapidly expanding dealer network will allow us to significantly increase our penetration in the residential and small commercial market.”