Recent rumours of a business tie-up between Q-Cells and LDK Solar have come to fruition with the official formation of a Joint Venture (JV) to promote and supply PV systems for large-scale solar power plants in both Europe and China. The new business partners said that a 40MW project located in Europe had already been secured, which will see the use of solar wafers from LDK Solar and solar cells from Q-Cells, though no details were given in respect to modules.
The JV is intended to reduce system costs through the supply chain and leverage market presence in the two regions, according to the companies.
“This joint venture will strengthen our position in the crucial business area of large-scale PV power plants,” noted Anton Milner, CEO of Q-Cells SE.
“We look forward to the many new opportunities that will emerge as a result of our partnership with Q-Cells,” commented Xiaofeng Peng, Chairman and CEO of LDK Solar.
Other projects were said to be in the planning stage including in China. The companies also said that the JV did not require additional working capital financing or other funding from the either company.