A group of Chinese PV companies have formed an investment consortium targeting the development solar power parks across Europe. China Technology Development Group Corporation (CTDC), Goldpoly New Energy and TBEA SunOasis, a subsidiary of Tebian Electric Apparatus Stock, plan to develop PV power plants, initially on a small-scale before targeting larger projects. China-based banks are supporting the consortium with US$10 billion worth of credit facilities The consortium was announced during Intersolar Europe 2011.
“As a solar solution provider, we will be able to reduce EPC cost by 5% annually for the next three years in building solar plants in Europe,” noted Alan Li, Chairman and CEO of CTDC. “Construction efficiency will be improved through our efforts in applying new materials and new technologies, including pre-installations of cables, solar cells and inverters.”
“Our PV investment consortium has strong financial support from China Development Bank and China Merchants Bank,” said Mr. Jianxin Zhang, CEO of TBEA SunOasis. “Given their backing of US$10 billion credit facilities, we will be able to grow steadily over our investment and construction of solar plants in Europe.”
The consortium expects to partner with leading European-based project developers and EPC contractors.