Global Power and Water Industries and Guangdong Meiyan Hydropower have formed a joint venture company to develop and build a 500MW concentrated photovoltaic power plant in Mei Xian county, Guangdong, China. The partner companies’ boards of directors have decided on Guangdong Global Power and Water Industries as the name of the new JV.
The companies said that site planning, local government requirements and regulatory issues, as well as feasibility and engineering studies will begin immediately, with a team of Global Power and Water engineers traveling to Mei Xian County after the first of the year.
The new entity, which will have offices in the No. 1 Mei Yan Science and Technology Park in Mei Xian county, has been granted its “Certificate of Approval for Establisment of Enterprises with Foreign Investment in the People’s Republic of China.”
“This JV company is a very exciting step for both companies and moves us forward on our mission to bring concentrated photovoltaic solar technology and power storage technology to large segments of the Chinese population,” said Howard Foote, chairman of Carson City, NV-based Global Power and Water. “Guangdong Hydropower owns and operates eight hydropower facilities in China, and they are a key strategic partner, properly positioned politically and financially in the power industry of China. They bring us the experience and expertise we need to successfully build and operate this, our initial facility.”
Neither the financial terms of the JV deal nor the specifics of the CPV technology to be deployed have been disclosed.