Major PVEP SunPower has formed a second joint venture in China to massively expand its PV project pipeline using its high-efficiency, low-concentration photovoltaic (LCPV) technology.
SunPower said that would form a JV with Tianjin Zhonghuan Semiconductor Co., Sichuan Development Holding Co., Ltd.; Leshan Electric Power Co., Ltd.; and Tianjin Tsinlien Investment Holding Co. to develop and own at least 3GW of PV power plants using SunPower’s LCPV technology.
The company had officially announced in November of 2013 its first China-based JV with Tianjin Zhonghuan Semiconductor Co., the Inner Mongolia Power (Group) Co., and Hohhot Jinqiao City Development Company that led included the establishment of a 300MW C7 cell receiver manufacturing facility and the deployment of a 20MW power plant project in Saihan and a 100MW project in Wuchuan, China.
“In a short period of time, SunPower has begun to tap into China's tremendous, growing market, where our leading technology is well suited to the environment and is in demand,” said Tom Werner, SunPower president and CEO, following a signing ceremony in Chengdu. “Once again, this new joint venture brings together the strength and expertise of each partner to achieve a common goal of providing clean solar energy to the people of China. With an expected pipeline of more than three gigawatts, we see tremendous opportunity for SunPower and our partners,” he added.
“Today, our five partners together realized the dream of investing in environmentally friendly, resource saving, high efficiency PV power plant projects,” said Qu Defu, Tianjin Zhonghuan Electronic and Information (Group) Co., Ltd. general manager. “I believe that with each partner's strong collaboration, continuous effort, efficient planning, effective execution, as well as our common vision of providing reliable and highly efficient renewable energy projects, we can realise our common goal to build high quality PV projects and boost local economy.”
Werner had recently said in SunPower’s latest earnings call that the company only had a 1GW pipeline in China as part of a total global pipeline of 8GW.