Xinyu City, China [RenewableEnergyWorld.com] Q-Cells SE and LDK Solar have formed a joint venture focusing on solar photovoltaic (PV) systems and market development in Europe and China. A joint project pipeline is already in place and development on the joint venture’s first 40-megawatt (MW) project has started.
The projects developed through the joint venture will utilize solar wafers from LDK Solar and solar cells from Q-Cells, and will not require additional working capital financing or other funding from the two companies.
The joint venture is already in discussions with potential buyers for the first turn-key project, which will be in Europe, and is in the planning stages for future joint projects in the emerging Chinese market.
“We look forward to the many new opportunities that will emerge as a result of our partnership with Q-Cells,” said Xiaofeng Peng, chairman and CEO of LDK Solar. “As leaders of the solar industry, we are excited to announce this joint venture for exploring and developing new business.”
The companies said that their partnership in the area of PV systems is not intended to be exclusive, but rather to focus on developing specific projects of mutual benefit, with the shared goal of accelerating the move to grid parity.