The Solar Trust of America has formed a joint venture with SolarHybrid as it looks to establish itself in the solar industry. The new company, SolarHybrid of America, has already signed a letter of intent to establish a range of utility-scale projects in North America. This portfolio will include stand-alone systems, as well as projects incorporating concentrated solar power (CSP).
“Developing CSP and PV in tandem will allow us to achieve better cost and production efficiencies than with either technology on its own,” said Uwe Schmidt, chairman and CEO of Solar Trust of America. “From the outset, our plan has been to bring utility-scale solar power to the growing US market as a vertically-integrated engineering, construction and services provider that is technology agnostic.
“With over 2,000MW of permitted sites in the pipeline, Solar Trust of America is delighted to partner with SolarHybrid AG to accelerate our expansion into the photovoltaics marketplace.”
Under the terms of agreement, SolarHybrid of America will operate out of Solar Trust of America's Oakland office.