Quantum Technologies’ German affiliate, Asola, has signed an MOU with Evergreen Power to establish a joint venture manufacturing plant in Ontario, for the production and distribution of solar modules in Canada. The planned initial production capacity is 30MW, with the potential to generate revenues in excess of CAN$60 million annually. The joint venture company will market the modules under the “Asola” brand.
“We are pleased with the energy, enthusiasm and market knowledge of Evergreen Power, and look forward to quickly launching our products into the fast growing Ontario market,” said Reinhard Wecker, the founder and CEO of Asola. “We plan to bring a series of proven designs including innovative building integrated photovoltaic products to the Canadian market.”
“We are excited to be one of the first to market with PV modules manufactured in Ontario,” said Tim Burke, COO of Evergreen Power. “We will be ready to meet market demand for high quality PV modules in mid-2011, with long term goals to manufacture modules for use in the automotive industry. Evergreen’s participation in this venture will also secure module supply for our FiT program customers.”
“Ontario, with its progressive feed-in-tariff programs, is one of the fastest growing solar energy markets in the world,” said Alan Niedzwiecki, president and CEO of Quantum. “Ontario’s aging grid and recent blackouts have highlighted the importance of distributed generation and created a sense of urgency in this market. Manufacturing in Ontario provides us, through our affiliation with Asola, with products with the right local content, and a timely vehicle for accelerated growth, to complement our Schneider Power acquisition.”
Quantum also recently acquired Ontario-based Schneider Power, which has a portfolio in excess of 1,000MW of clean electricity generation development projects across two continents.