First Solar has formed a joint venture with BELECTRIC, a specialist in the development and construction of ground-mounted solar power plants and photovoltaic roof systems, to fulfil projects in Europe, North America and the U.S.
The JV, named as PV Projects GmbH & Co. KG, is based in Germany. The company will develop selected PV power projects independently acquired or developed by either of the two companies in Europe, North Africa, as well as projects of fewer than 20 megawatts (MW), in the United States.
Under the terms of the JV First Solar will supply its advanced thin-film modules, selected components such as the First Solar Tracker and value-added services; while BELECTRIC will provide its advanced Balance of Systems (BoS) and a range of service capabilities.
BELECTRIC’s existing 280MWp pipeline will support the JV’s focus on the sub-20MW segment in the United States. The non-exclusive agreement will also allow both companies to independently and competitively pursue development prospects and corresponding EPC work.
Both BELECTRIC and First Solar have been partners for over a decade. The two companies recently marked the inauguration of the 128MWp Templin solar power plant in Germany, the largest deployment of First Solar modules in Europe.
An estimated 80 percent of the 1,400 MWp of solar electricity generation capacity installed by BELECTRIC is powered by First Solar modules.
First Solar provides photovoltaic (PV) energy solutions and boasts a pipeline of over 3 Gigawatts (GW) of contracted solar power plants and over 7GW installed worldwide. First Solar’s commercial footprint spans six continents, with manufacturing facilities in the US and Malaysia.
By joining forces with First Solar, BELECTRIC hopes to strengthen both companies’ relationships with key stakeholders including project developers and investors at a time when prices of electricity from solar power plants can already compete with the prices for conventionally generated electricity in a growing number of regions.