In a move likely to expand the module manufacturer’s reach in Asian markets, Solaria Energía y Medio Ambiente has signed a cooperative agreement with Chengdu, China-based Dongfang Electric Corporation (DEC), and has secured a purchasing credit line worth US$30 million from DEC for the purchase of cells and project components.
The companies have outlined the terms and limitations of their new arrangement and have further agreed to make co-investments worldwide in a target pipeline of 100MW per annum for an unspecified number of years.
DEC is one of the largest enterprise groups under the direct administration of Chinese Central Government. The company, classed as a National Research & Development Center, produces over 30,000MW worth of power-generating equipment across the solar thermal, hydro, nuclear, wind and combine-cycle industries.
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