First Solar Inc. and Belectric Holding GmbH announced the launch of a joint venture that will develop solar energy projects on three continents. The venture, named PV Projects GmbH & Co. KG, is based in Germany and will develop select photovoltaic power projects independently acquired or developed by either of the two companies in Europe, North Africa, as well as projects of fewer than 20 MW, in the U.S.
Under the terms of the joint venture which is subject to approval from the relevant governmental merger control authorities — First Solar will supply its advanced thin-film modules, selected components such as the First Solar Tracker and other services; while Belectric will provide its balance of systems and a range of service capabilities.
Both companies’ engineering, procurement and construction (EPC) contributions will vary by project and geography. The JV’s emphasis on the sub-20 MW segment in the U.S. will include Belectric’s existing 280 MW pipeline in the country, along with other opportunities. The non-exclusive agreement will also allow both companies to independently and competitively pursue development prospects and corresponding EPC work.