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.
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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.
