Panasonic is making renewed efforts to build a profitable business in the North American solar market by offering project finance on commercial-scale projects, after launching its Panasonic Eco Solutions operations earlier in the year. To provide the financing and expertise required, Panasonic has teamed with US firm, Coronal Management, which will form a new dedicated solar-focused company that will partner on projects.
“The ability to provide an end-to-end development, implementation and financing solution for our customers is critical to our continued growth in the solar space,” commented Jim Doyle, President of Panasonic Eco Solutions North America.
The move by Panasonic goes some way towards offering similar services to that of SunPower, which has been able to ring fence demand for its high-performance modules against lower-performing but also lower cost modules from tier 1 Chinese PV manufacturers.
“Panasonic brings unrivalled engineering and building capabilities backed by the largest balance sheet in the solar business,” said Jonathan Jaffrey, who heads Coronal Management. “Together Panasonic Eco Solutions North America and Coronal Management will provide an unmatched solar solution to the North American market.”
The new partners did not provide details on potential plans to build a project pipeline or how much financing was being made available to gauge the full extent their ambitions.