10 May 2011

First Solar & China Power International New Energy reach international cooperation agreement

First Solar Inc of Tempe, AZ, USA, which makes thin-film photovoltaic (PV) modules based on cadmium telluride (CdTe) as well as providing engineering, procurement and construction (EPC) services, has signed a strategic cooperation framework agreement with China Power International New Energy Holding Ltd (CPINE), a subsidiary of China Power New Energy Development Company Ltd (CPNE), to collaborate on PV projects in China, the USA and other international markets.

Liu Genyu (China Power International Holding Ltd’s new energy development supervisor, CPNE CEO and CPINE general manager) and TK Kallenbach (president of First Solar’s Components Business Group) signed the agreement at a ceremony in Beijing with Madame Li Xiaolin (chairwoman of China Power International Holding Ltd, CPNE and CPINE).

First Solar and CPINE will initially explore collaboration on solar PV projects in China and identify project investment opportunities for CPINE in the USA and other global solar markets, leveraging CPINE’s role as a renewable energy developer in China (including its planned 2GW of solar in China by 2020) and First Solar’s expertise as a global solar PV technology firm (including its 2.4GW pipeline in North America).

“This cooperation leverages our advantages in the domestic solar power industry, and helps First Solar further expand its business presence in China,” says Li. “In addition, we are happy to explore other cooperation opportunities in different areas and through different methods with First Solar, working together to further expand in the global market,” she adds.

CPINE is one of the premier state-owned clean-energy companies in China, says Kallenbach, although CPNE is incorporated in Bermuda with limited liability, and its shares are listed on the Main Board of The Stock Exchange of Hong Kong Ltd. “Both China and the US are important markets with vast potential for sustainable solar energy, and this agreement can serve as a model for US–China collaboration on renewable energy,” he adds. “Our agreement with CPINE also includes the potential to expand to other international markets, which could open up tremendous opportunities.”

Tags: First Solar Thin-film photovoltaic CdTe

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