Shunfeng Photovoltaic and Greenfield Solar have entered into an alliance with youmex, based in Germany to finance and sell their solar farm projects pipeline in UK using Suntech as its PV panel supplier.
This alliance aims to act as a catalyst for growth in the UK’s solar market, said, Eric Luo, CEO, Suntech.
Luo, who is also responsible for Shunfeng Photovoltaic’s acquisition strategy, commented that Suntech and Shunfeng can check out for other acquisitions in the market as part of the strategy to become the global integrated clean energy provider through this partnership.
During the alliance, Greenfield will provide EPC services while youmex will arrange financing as well as see the selling activity of PV Plants to investors.
Taking the responsibility of fully integrated transaction management of this project, youmex will accelerate the financing process, explains, Kai Hartmann, head, Corporate & Structured Finance, youmex.
Joining with the expertise of Suntech and youmex, this alliance is well-positioned to solidify a strong presence within the UK’s Solar PV market, stated, Helmut Kube, managing director, Greenfield.
Suntech produces 60 Cell polycrystalline modules which are better for low performing markets such as the UK and use advanced cell technology material, which are resistant to Potential Induced Degradation (PID), providing high performance.
Recently, Suntech’s polycrystalline silicon modules raised above industry standards in a technical review conducted by OST Energy from UK and received the VDE-Quality Tested certification for high quality with exceptional standards.